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Contributor
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Assessing STH Conditions The recent downtrend has pushed a significant portion of Short-Term Holder (STH) coins into loss. Despite a surge in unrealized losses, the financial impact on new investors remains largely in line with the yen carry trade event on August 5, 2024. The scale of unrealized losses is also less severe than the May 2021 sell-off and the 2022 bear market. Realized loss analysis over the past 30 days shows that a large portion of new investors capitulated under market pressure, with $7B in realized losses, making it the largest capitulation event of this cycle. However, the scale remains far smaller than May 2021 and the 2022 bear market events.
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