**A recent report from Glassnode**, led by researchers Ukuriaoc and Cryptovizart, highlights growing stress among **short-term bitcoin (BTC) holders**. As market pressure mounts, these investors are experiencing **heightened unrealized losses**, which may drive future sell-side activity.  

## Glassnode: Unrealized Losses Climb for Short-Term Bitcoin Investors  
According to Glassnode’s [onchain analysis](https://insights.glassnode.com/the-week-onchain-week-36-2024/), short-term bitcoin holders are currently bearing the brunt of unrealized losses in the bitcoin market. Despite overall market losses remaining historically low, this specific cohort faces significant financial strain. With downward pressure increasing over the past three months, **unrealized losses for short-term holders have consistently risen**. Glassnode’s report states:  
> However, even for this cohort, the magnitude of their Unrealized Losses relative to the market cap is not yet in full-scale bear market territory and more closely resembles the choppy 2019 period.  

The broader market continues to show resilience, with **unrealized profits still six times greater than losses** across the investor landscape. However, short-term holders, especially those who purchased in the past six months, are notably vulnerable.  

![Report Highlights Short-Term Bitcoin Holders Facing Heightened Unrealized Losses](https://static.news.bitcoin.com/wp-content/uploads/2024/09/woc-36-02.png)  

The average cost basis for these investors ranges between **$59,000 and $65,000**, well above the current spot price of bitcoin. This trend suggests that until the spot price climbs above their breakeven point, these investors are expected to remain under pressure.  

“Generally speaking, until the spot price reclaims the **STH cost basis of $62.4k**, there is an expectation for further market weakness,” Glassnode’s onchain analysis details.  

Despite these challenges, Glassnode’s analysis shows that **realized profit and loss-taking activities remain minimal**. The **Sell-Side Risk Ratio**, a key indicator of market behavior, suggests that most coins being transacted are near their original acquisition prices. This metric typically precedes heightened volatility, indicating potential turbulence in the near future as the market searches for equilibrium. The report emphasizes that short-term holders are likely to be the primary source of **sell-side pressure** if market conditions worsen.  

*What do you think about Glassnode’s latest analysis? Share your thoughts and opinions about this subject in the comments section below.*

A report from Glassnode, led by researchers Ukuriaoc and Cryptovizart, highlights growing stress among short-term bitcoin (BTC) holders.

Short-Term Bitcoin Holders Under Pressure: A Deep Dive into Rising Unrealized Losses

**In the past 15 days, the stablecoin economy has seen a remarkable expansion, adding **$1.08 billion** to its overall value.** Despite a slowdown, this growth highlights the resilience of the stablecoin market. From **August 23, 2024** to **September 7, 2024**, the total market cap increased from **$169.72 billion** to **$170.80 billion**. During this period, the stablecoin economy dominated trading activity, contributing **$80.16 billion** out of **$114.2 billion** traded in the last 24 hours.

### Key Players in the Stablecoin Market
- **Tether (USDT)** experienced significant growth, with its supply rising from **117.39 billion** to **118.18 billion USDT**.
- **Circle's USDC** saw a smaller increase of **50 million** over the same period.
- Conversely, **DAI**'s market supply decreased by **60 million**, and **Ethena's USDE** supply fell by **330 million**. Despite these declines, Tether and other stablecoins have managed to sustain the upward trend of the stablecoin economy, albeit at a slower pace than in previous weeks.

### Market Dynamics
The growth rate has slowed compared to earlier increases; for instance, in the five days leading up to August 23, the stablecoin market grew by **$1.3 billion**. This recent performance suggests a shifting landscape in the stablecoin sector, where the dominance of Tether is increasingly pronounced.

*What are your thoughts on the **$1.08 billion** added to the stablecoin economy over the past two weeks? Share your insights in the comments below!*

In the past 15 days, the stablecoin economy experienced modest yet steady expansion, adding $1.08 billion to its overall value.

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