In 3 days, cryptocurrency holders suffered the largest losses in the history of the cryptocurrency market

According to Grassnode analysts, the weekend of June 18−19 was one of the worst in the history of cryptocurrencies. This is due to the unusual volatility that pushed bitcoin below $ 18,000.

The losses of crypto investors exceeded $ 7 billion, with many of them losing their coins that they had previously purchased at several times the price. According to analysts, a large percentage of investors losing money will increase panic in the market and prevent the situation from stabilizing faster.

The last three consecutive days have been the largest USD denominated Realized Loss in #Bitcoin history.

Over $ 7.325B in $BTC losses have been locked in by investors spending coins that were accumulated at higher prices.

A thread exploring this in more detail 🧵
1/9 pic.twitter.com/O7DjSK2rEQ

— glassnode (@glassnode) June 19, 2022

Long-term investors experienced the largest price drop as they lost about 180,000 BTC, pushing the value of the BTC below the historical high of 2017. Analysts pointed to direct signs of capitulation as investors sold their funds, even at a staggering 75% loss. This irrational behavior of long-term investors is most likely due to market panic (bitcoin is expected to fall below $ 15,000).