NewsletterBreaking: These 3 Crypto Hodlers Lost $1.40 Billion In BTC Bloodbath
On a day when Bitcoin is down 14%, crypto-bullish institutional investors are standing to be one of the largest losers. In the space of 24 hours, BTC price dropped to a low of $23,458.60 from a high of $28,240.
Loss Of Interest In BTC, ETH Among Institutional Investors
Statistics revealed last week that institutional investors were significantly losing interest in Bitcoin and Ethereum. The ongoing crypto meltdown, which also witnessed the Terra crash last month, is seeing huge selling activity.
During last week, BTC witnessed total outflows of $57 million, while the month-to-date outflows stood at $91 million.
Likewise, Ethereum witnessed massive selling activity due to two major setbacks. While the delay of Ethereum Merge had huge impact on trading activity, the depegging of stETH from ETH worsened it. A total of $41 million was witnessed in institutional outflows, while the year-to-date outflows stood at $387 million.
So far on Monday, the huge decline in Bitcoin price had a direct impact on the overall cryptocurrency market. Also, MicroStrategy, which is the largest institutional holder of Bitcoin at 129,218 coins, extended losses to its stock price.
Data on public companies owning Bitcoin revealed massive losses incurred by top institutional investors. Central American country El Salvador is in top three among Bitcoin holding institutions, although it is not really a company.
In a shocking revelation, a staggering $1.39 billion in BTC was lost between the top three investing companies. MicroStrategy is followed by Elon Musk’s Tesla and El Salvador with each holding 129,218, 42,902, and 2,301 bitcoins respectively.
Three Holders With Significant Market Share
The losses are significant in the larger context of trader sentiment in the crypto market. Together, the top three institutional investors hold nearly 0.90% of the total available supply of Bitcoin, which is 21 million.
As a result, the price drop continues to drive the institutional investors to sell their holdings. The cryptocurrency market has dropped below the $1 trillion mark for the first time in months. It stands at around $960 million, losing more than $1.5 trillion in a space of eight months.
In a latest, Bitcoin has after trading around $23,500 for a while, regained a bit. As of writing, BTC is trading at just above the $24,000 mark.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- BlackRock Bitcoin ETF Ranks Among Top ETFs In 2025 Despite Crypto Downturn
- Stablecoin Adoption Deepens as Klarna Turns to Coinbase for Institutional Liquidity
- Ripple, Circle Could Gain Fed Access as Board Seeks Feedback on ‘Skinny Master Account’
- Fed’s Williams Says No Urgency to Cut Rates Further as Crypto Traders Bet Against January Cut
- Trump to Interview BlackRock’s Rick Rieder as Fed Chair Shortlist Narrows to Four
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
