STHs faced substantial losses as Bitcoin briefly fell below $60k
Summary
Bitcoin experienced a significant drop below $60,000 over the weekend, leading to over $537 million in realized losses, mainly from short-term holders (STHs). The majority of these losses, $441 million, came from those who had held Bitcoin for a month or less. This event underscores the volatility of the market and the reactive behavior of its participants. On-chain metrics showed a sharp decrease in the percentage of STH supply in profit during this market turbulence.
