Glassnode: The Bitcoin held by short-term holders is almost entirely in a state of loss, reaching the highest level since the FTX collapse

According to CoinDesk, Glassnode data shows that short-term holders of Bitcoin (those holding for less than 155 days) currently hold a total of 2.8 million Bitcoins, almost all of which are in a state of loss. This loss scale has reached the highest level since the FTX collapse in November 2022, when Bitcoin was trading close to $15,000 each. On June 15 (155 days ago), the trading price of Bitcoin was $104,000, which means that almost all Bitcoins purchased since then are currently priced below their purchase price.

In contrast to short-term holders, long-term holders are continuing to reduce their holdings. Glassnode data shows that the number of Bitcoins held by long-term holders has decreased from 14,755,530 in July to 14,302,998 on November 16, a reduction of 452,532 Bitcoins.

Nicholas Gregory, a director of Fragrant's board, stated, "Many long-term holders choose to sell in 2025 after years of accumulation, and these sell-offs are mostly driven by lifestyle changes rather than a negative view of the asset itself. The launch of the U.S. ETF and the $100,000 price target create a highly attractive and liquid window for selling."