bitcoin
Bitcoin (BTC) $ 16,571.83
ethereum
Ethereum (ETH) $ 1,219.44
tether
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usd-coin
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xrp
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binance-usd
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dogecoin
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cardano
Cardano (ADA) $ 0.318878
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Solana (SOL) $ 14.34
matic-network
Polygon (MATIC) $ 0.859352
polkadot
Polkadot (DOT) $ 5.41
tron
TRON (TRX) $ 0.053508
bitcoin
Bitcoin (BTC) $ 16,571.83
ethereum
Ethereum (ETH) $ 1,219.44
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 314.27
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.402799
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.097541
cardano
Cardano (ADA) $ 0.318878
solana
Solana (SOL) $ 14.34
matic-network
Polygon (MATIC) $ 0.859352
polkadot
Polkadot (DOT) $ 5.41
tron
TRON (TRX) $ 0.053508
Sunday, November 27, 2022
HomeCoinsBitcoinRealized Bitcoin loss from the FTX fallout surpasses LUNA collapse

Realized Bitcoin loss from the FTX fallout surpasses LUNA collapse

The collapse of FTX wreaked havoc available on the market, wiping out billion from the market cap. Bitcoin took its heaviest hit this 12 months, dropping to a low of $15,500 and struggling to interrupt by means of the sturdy resistance at $16,000.

Bitcoin’s volatility appears to have shaken the arrogance of many traders and pushed them to promote effectively under their shopping for worth. Glassnode information analyzed by CryptoSlate confirmed that realized Bitcoin losses reached their yearly excessive of $4.3 billion.

The primary wave of promoting strain seen initially of November pushed realized loss to round $2 billion.

A slight consolidation in losses led many to imagine that the fallout was contained, however a further wave of promoting strain pushed the losses even decrease. The realized losses attributable to the collapse of FTX are actually larger than the realized losses attributable to the Luna collapse in June this 12 months.

bitcoin realized loss
Graph displaying Bitcoin’s internet realized revenue and loss in 2022 (Supply: Glassnode)

The losses suffered had an hostile impact on Bitcoin’s correlation to different cryptocurrencies. Bitcoin and altcoins have been buying and selling at a 1:1 correlation because the starting of November, indicating a degree of volatility unseen because the starting of the COVID-19 pandemic in March 2020.

realized loss btc alts correlation
Graph displaying the BTC-Alts rolling correlation (Supply: Swissblock Applied sciences)

BitcoinMasterNews

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