The bears have won most of this year’s crypto market as the most popular crypto, Bitcoin (BTC), struggles to cross the $20k price point. According to the market intelligence platform, Santiment, five-year BTC investors are now at a loss.
Santiment shared a chart with the crypto community proclaiming that people who have been holding Bitcoin for the last five years are now underwater, with a 34% loss on average. The analytic firm added that BTC return first went 0% on June 9 this year.
📉 Inspired by #Subreddit r/dataisbeautiful reporting that 5-year #Bitcoin holders are now under water… https://t.co/QSZDGmJvc2 @santimentfeed reveals that the average active 5-year trader has a return of -34%. Returns first went below 0% on June 9th.https://t.co/RK6a6hDR7f pic.twitter.com/bbRvXSXIpD
— Santiment (@santimentfeed) December 17, 2022
Currently, BTC trades at around the $16k price range after briefly hitting $18,000 over the previous 48 hours. Additionally, according to data from the market tracking site, CoinMarketCap, the global crypto market cap lost nearly $22 billion in the last 24 hours.
Of the top ten cryptocurrencies with the largest market cap, the
However, BNB trades at $236.49, falling from nearly $300, representing a whopping 18% loss, given that BNB is one of the top tokens with great utility and community. The week-long depreciation may be due to the continuous FUD and panic calls circulating the crypto community.
This week, Binance suffered significant FUD messages that led to massive withdrawals of over $6 billion within 24 hours from the