The price of Bitcoin on the night of November 22 decreased by $3,000 (5%), Report informs citing RBK.
As of 10:40 a.m. (GMT+4), the first cryptocurrency was trading at $57,200, and its capitalization is $1.08 trillion. Over the week, the asset fell by 12.5%.
On November 10, Bitcoin set a new all-time high at $69,000. Since then, the price of cryptocurrency has dropped by 17%.
Last week, it became known that long-term Bitcoin holders are not panicking over the decline in the value of the asset. Glassnode analysts estimate that long-term Bitcoin investors sold only about 0.7% (100,000 BTC) of their reserves in a month. Analysts have estimated the reserves of large holders at 13.5 million BTC.
Long-term holders account for about 81.7% of the total Bitcoin supply. This is while 18.3% of the total market supply of the first cryptocurrency is held by short-term holders (buying coins for a period not exceeding 155 days). In the range of $56,000-$69,000, investors acquired 17% of the Bitcoin market supply.