• Bitcoin (BTC) saw a realized loss of $200 million and a realized profit of $184 million on Feb. 9, following Kraken’s settlement with the SEC to end staking for U.S. customers.
• The total net realized loss stands at $16.2 million, suggesting liquidations were the main driver of negative price action.
• Net Realized Profit/Loss is defined by the difference between Realized Profit and Realized Loss which are both based on the USD value of all moved coins.
Kraken Settles with SEC
Bitcoin (BTC) dropped 3.9% in the past 24 hours following Kraken’s settlement with the Securities and Exchange Commission (SEC) to end staking for U.S. customers on February 9th, 2021.
Realized Losses Hit $200 Million
As a result of this settlement, Bitcoin saw a realized loss of $200 million and a realized profit of $184 million on February 9th 2021 .The total net realized loss stands at $16.2 million, suggesting liquidations were the main driver of negative price action in that particular day for Bitcoin holders in United States.
Net Realized Profit & Loss Defined
Net Realized Profit/Loss is defined by the difference between Realized Profit and Realized Loss which are both based on the USD value of all moved coins; where Realized Profit denotes total profit (USD value) while Realized Loss denotes total losses (USD value).
Conclusion
The sudden dip in Bitcoin prices due to Kraken’s settlement with SEC resulted in losses worth up to 200M USD; however it was compensated by an overall net realizable profit/loss ratio standing at 16M USD which suggests that liquidations were primary drivers pushing prices down on that particular day for US-based investors..
