@frostwisp
Panic set in as BTC broke below the STH-RP ($108,000) level.
On-chain, the realized loss (entity-adjusted) spiked to $107 million (see Chart 1). While this isn’t as high as the $126 million seen on Aug 26, it’s still significantly above the levels on Aug 25, 27, and 28. So, it’s too early to say market sentiment is easing.
(Chart 1)
Looking at realized losses sent to exchanges, there was a clear surge around 5AM (UTC+8) on Aug 30 (see Chart 2). This coincided precisely with BTC dropping below $108,000—the average cost basis for short-term holders—triggering some investor panic.
0 reply
0 recast
0 reaction