40 percent of investors are now in the red

New York, Dusseldorf The sell-off on the crypto market continues almost unabated. On Tuesday, the digital currency Bitcoin temporarily fell below the $30,000 mark for the first time since July 2021. The oldest and most important cryptocurrency has lost 56 percent of its value since its record high in November 2021. At that time, the price was almost $69,000.

The losses no longer only hit investors who invested late in the crypto hype, or speculators who were wrong with their bets on rising crypto prices. Almost 40 percent of Bitcoin investors are now in the red, according to data from the analysis company Glassnode. The price losses are not only painful for investors. They also hit the business of brokers like Robinhood, specialized exchanges like Coinbase, as well as crypto miners.