Analysis says realized BTC losses by long- and short-term holders surge amid fear

Crypto analyst Murphy said on X that the cryptocurrency market has reentered an extreme fear phase. Murphy said realized losses by long- and short-term BTC holders who transferred coins to exchanges on Nov. 12 hit their highest recent level and approached levels seen around the June-July bear-market bottom this year. Murphy added that extreme fear is spreading across the market. Murphy also said Glassnode’s Market Compass, a composite market assessment indicator, fell into a risk-off zone at 11 out of 100, while its macroeconomic component was the weakest at 17. Murphy said macroeconomic headwinds and investors’ collective fear are causing stronger-than-expected selling pressure, adding that Murphy sees the market as being in a transitional phase and plans to buy the dip if sentiment improves.