Express
Glassnode: Panic Selling by New Entrants Reached the Fourth Highest Level Since 2015
Summary: Glassnode data shows that the loss caused by the short-term bitcoin sell-off to short-term holders is of historical significance. It represents that the value of the STH-SOPR indicator for purchasing cryptocurrencies in the current bull market cycle fell to around 0.9. Prior to that, since 2015, the STH-SOPR has only fallen below this position three ...
Glassnode data shows that the loss caused by the short-term bitcoin sell-off to short-term holders is of historical significance. It represents that the value of the STH-SOPR indicator for purchasing cryptocurrencies in the current bull market cycle fell to around 0.9.
Prior to that, since 2015, the STH-SOPR has only fallen below this position three times, namely: the beginning of the bear market in February 2018, the sharp drop in November 2018, and the sell-off caused by covid-19 in March 2020. STH-SOPR takes into account the degree of profit realized by cryptocurrencies that move on-chain, filters out cryptocurrencies held for less than 155 days, and represents entities that purchase cryptocurrencies in the current bull market cycle.
By Amy Liu
Tags: Bitcoin,Glassnode,Panic Selling
Link: Glassnode: Panic Selling by New Entrants Reached the Fourth Highest Level Since 2015 [Copy]
