London Daily

Focus on the big picture.
Thursday, Oct 09, 2025

Latest Bitcoin Correction Caused Panic Amongst Newcomers – Pros Are Buying the Dip

Latest Bitcoin Correction Caused Panic Amongst Newcomers – Pros Are Buying the Dip

Blockchain data shows that the latest bitcoin market correction, which sent the oldest cryptocurrency down by more than 35% from its peak price above $64,000, may have been driven by panic selling from investors who bought during the recent bull market.

Blockchain data shows that the latest bitcoin market correction, which sent the oldest cryptocurrency down by more than 35% from its peak price above $64,000, may have been driven by panic selling from investors who bought during the recent bull market.

“The bitcoin market is in a historically significant correction,” blockchain data analytics firm Glassnode wrote in a post on Monday. “There are strong signals that short-term holders are leading with panic selling.”

At press time, bitcoin (BTC) was changing hands at $42,860.11, down 9.65% in the past 24 hours, based on the CoinDesk 20. The steep price drop came after a series of tweets by Tesla CEO Elon Musk in which he initially failed to deny outright that his electric-car company has sold or could soon sell all of its more than $1 billion holdings of BTC. He later clarified that Tesla had not sold any of the holdings.

On Wednesday, Musk announced that Tesla would no longer accept bitcoin as a form of payment because of concerns about its impact on the environment. The price fell by nearly 13% that day, or more than $7,000, on the Coinbase exchange, according to TradingView.

In the post Monday, Glassnode, citing several key blockchain data metrics, said that the market correction has been led by new investors who are selling in a panic.

The “short-term holder SOPR,” or STH-SOPR that filters for coins younger than 155 days, dropped well below the key threshold of 1, meaning that newer market entrants appear to have “panic-sold” and realized “significant” losses on their invesments, according to Glassnode.

SOPR measures the net profit/loss position of bitcoin outstanding. A reading below 1 implies that any bitcoin moved that day is on average selling at a loss. At the time of writing, while the SOPR for the long-term holders is also trending downward, the value is still above 4.

At the same time, the number of accumulation addresses of bitcoin continues to rise, as the count of non-zero balance addresses dropped by about 2.8% – indicating that long-term holders are buying on the latest price dip, according to the Glassnode post.

With bitcoin still at a much higher price than it was during the last bull market, bigger capital inflows are needed to drive a full price recovery, according to Glassnode’s report

On the other hand, the blockchain data also might imply that the current correction could be “a larger time-frame pullback in a bull cycle.”

“Weak hands capitulate,” Glassnode said. “And stronger hands recommence their accumulation of cheaper coins.”

Source: Latest Bitcoin Correction Caused Panic Amongst Newcomers – Pros Are Buying the Dip – Fintechs.fi

Newsletter

Related Articles

0:00
0:00
Close
French Political Turmoil Elevates Marine Le Pen as Rassemblement National Poised for Power
China Unveils Sweeping Rare Earth Export Controls to Shield ‘National Security’
The Davos Set in Decline: Why the World Economic Forum’s Power Must Be Challenged
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
×