Last week's BTC price dip caused a spike in Bitcoin wallets in the red.
Meanwhile, those who bought in recent weeks are underwater to varying degrees, as Bitcoin is at its lowest since the last week of July.$25,200 highs is now becoming clearerThe increase in underwater addresses has been particularly pronounced since last week’s sudden price drop. At the time of writing, the seven-day moving average of wallets in the red sits at more than 17.5 million — an increase of 1.5 million over several days.
Aug. 19 sealed a total of $209.5 million in long position liquidations on exchanges — the most since June 13 — along with $30 million of short positions.Turning to the immediate outlook, few were prepared to bet on a major renaissance in crypto markets.
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