Summary
- Glassnode said Bitcoin unrealized losses are currently at about 19% of market capitalization.
- It noted this is a similar structure to the period when the May 2022 'crypto winter' unfolded.
- It said the Bitcoin price is holding around $67,000 and is up 1.48% from the previous day at $67,218.
An analysis suggests that unrealized losses—representing the scale of losses borne by Bitcoin (BTC) investors—have reached levels similar to those seen during the 2022 'crypto winter.'
On the 20th (Korea time), Glassnode said via X (formerly Twitter) that "with Bitcoin's price currently holding around $67,000, Bitcoin's unrealized losses amount to about 19% of its market capitalization," adding that "this is a similar structure to May 2022."
May 2022 was the period when investor sentiment in the virtual asset (cryptocurrency) market deteriorated sharply following the Terra-Luna collapse.
As of 10 p.m. on the day, Bitcoin was up 1.48% from the previous day at $67,218, according to CoinMarketCap.
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