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Bitcoin addresses losing money  Empty Bitcoin addresses losing money

Mon Nov 21, 2022 2:05 pm
I read somewhere that more than 50% of Bitcoin addresses are now losing money more than ever even since the start of the coronavirus-induced crash of March 2020.

According to the Coindesk
• Just over 51%, or 24.56 million addresses of the total 47.85 million, are below purchase price on their investments, according to data provided by blockchain analytics firm IntoTheBlock. About 45% are in the money, that is, boasting unrealized gains, while the rest are roughly at breakeven
• IntoTheBlock defines out-of-the-money addresses as those that acquired coins at an average price higher than bitcoin's going market rate of $16,067.
• The bearish momentum looks overdone, according to IntoTheBlock's Lucas Outumuro.
• Previous bear markets ended with the majority of addresses being out-of-the-money.

I don't understand this at all. Can anyone help me?
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