Glassnode: In this round of BTC pullback, short-term holders have borne most of the losses

According to Glassnode data, the current pullback of BTC has triggered the largest realized loss surge since the FTX collapse at the end of 2022. Short-term holders (STH) account for the majority of the losses, while long-term holders (LTH) have relatively limited losses, indicating that the pressure is primarily concentrated on recent buyers.