Cryptocurrencies
Crypto Market Starting to See Even Old-Timers ‘Panic Selling’
- Measure tracking profit realized has sunk to lowest in a year
- Data signal some long-term holders exiting below cost: Acheson
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As the crypto market crumbled this year, short-term speculators were among the first to dump their holdings. Now mounting losses have even some of the most steadfast investors looking like they’re bailing out.
A measure called the spent output profit ratio, which tracks how much profit has been realized from market activity in digital currencies on a blockchain on any given day, has declined to its lowest level in a year, according to Glassnode data.