Around 15.5 million Bitcoin wallets are in loss as revival looks bleak for Bitcoin.
As Bitcoin prices continue to plunge further and test lower supports, Bitcoin wallets are accruing more losses than what at any point in August. Since last week’s correction, the number of BTC addresses underwater now stands at 17.5 million, 1.5 million more than what it was a few days back.
On the derivatives front, on August 19, $209.5 million in long position (buy) liquidations and $30 million in short position liquidations (sell) happened, which were the most since mid-June.
On the macro front, the US Dollar index, to which Bitcoin has shown inverse correlation, rose by 4.4% and hit its highest level since July 14.