{"id":1469588,"date":"2022-05-10T07:29:46","date_gmt":"2022-05-10T11:29:46","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1469588"},"modified":"2022-05-10T07:29:48","modified_gmt":"2022-05-10T11:29:48","slug":"new-data-shows-40-of-bitcoin-investors-are-underwater","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-data-shows-40-of-bitcoin-investors-are-underwater\/","title":{"rendered":"New Data Shows 40% of Bitcoin Investors Are Underwater"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-data-shows-40-of-bitcoin-investors-are-underwater%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1469588&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<header id=\"SpecialReportArticle-PageHeaderWithTuneInText-2\" class=\"PageHeaderWithTuneInText-container PageHeaderWithTuneInText-isSpecialReport\" data-test=\"pageHeaderWithTuneInText-0\" data-analytics=\"SpecialReportArticle-pageHeaderWithTuneInText-2-0\">\n<div class=\"PageHeaderWithTuneInText-main\"><a href=\"https:\/\/www.cnbc.com\/cryptoworld\/\"><img decoding=\"async\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107010381-1644353263955-CRYPTO_WORLD_LANDER_GREY_TO_BLUE.png?v=1644353275&#038;h=80&#038;ffmt=webp\" class=\"PageHeaderWithTuneInText-logoImg\" alt=\"Crypto World\" \/><\/a><\/p>\n<\/div>\n<div class=\"PageHeaderWithTuneInText-divider\">\n<div class=\"PageHeaderWithTuneInText-tuneInText\">Watch Daily: Monday &#8211; Friday, 3 PM ET<\/div>\n<\/div>\n<\/header>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"SpecialReportArticle-KeyPoints-5\" data-test=\"keyPoints-1\" data-analytics=\"SpecialReportArticle-keyPoints-5-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.<\/li>\n<li>In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss, as the world&#8217;s most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower.<\/li>\n<li>Bitcoin&#8217;s close correlation to the Nasdaq challenges the argument that the cryptocurrency functions as an inflation hedge.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"SpecialReportArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"SpecialReportArticle-articleBody-6-2\">\n<div class=\"group\">\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/BTC.CB=\">Bitcoin<\/a> is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to <a href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-19-2022\/?utm_source=n&#038;utm_medium=email&#038;utm_campaign=woc_2022_19\" target=\"_blank\" rel=\"noopener\">new data from Glassnode<\/a>.<\/p>\n<p>That percentage is even higher when you isolate for the short-term holders who got skin in the game in the last six months when the price of bitcoin peaked at around $69,000.<\/p>\n<p>In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss, as the world&#8217;s most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower. Bitcoin&#8217;s close correlation to the Nasdaq challenges the argument that the cryptocurrency functions as an inflation hedge.<\/p>\n<p>Analysts from Glassnode also noted an influx of &#8220;urgent transactions&#8221; amid this latest sell-off, in which investors paid higher fees, indicating they were willing to pay a premium in order to expedite transaction times. The total value of all on-chain transaction fees paid reached 3.07 bitcoin over the last week \u2014 the largest yet recorded in its dataset.<\/p>\n<p>&#8220;The dominance of on-chain transaction fees associated with exchange deposits also signaled urgency,&#8221; continued the report, further supporting the case that bitcoin investors were seeking to de-risk, sell, or add collateral to their margin positions in response to recent market volatility.<\/p>\n<p>During the sell-off this past week, more than $3.15 billion in value moved into or out of exchanges, the largest amount since the market hit its all-time high in November 2021.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Most wallet cohorts, &#8220;from shrimp to whales,&#8221; have softened in their on-chain accumulation trends, according to the report, referring to both small-scale and large-scale investors.<\/p>\n<p>Wallets with balances of more than 10,000 bitcoin have been a particularly significant distributive force over the last few weeks.<\/p>\n<p>And while there is more conviction among retail investors \u2014 data shows that those holding less than 1 bitcoin are the strongest accumulators \u2014 the accumulation among these smaller-scale holders is notably weaker than it was in February and March.<\/p>\n<p>Fundstrat Global Advisors is calling a bottom of around $29,000 a coin, and the firm is now advising clients buy one-to-three month put protection on long positions.<\/p>\n<p>\u2014<em>\u00a0CNBC&#8217;s Kate Rooney contributed to this report<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Watch Daily: Monday &#8211; Friday, 3 PM ET      Bitcoin is off nearly 55% from its<\/p>\n","protected":false},"author":489,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1469588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1469588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/489"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1469588"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1469588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1469588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1469588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1469588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}