Paper hands is a term used in the crypto community to characterize people who sell a digital asset such as bitcoin when turbulence strikes markets.
“We had 200 days of market expansion.
“There’s a lot of retail that entered, didn’t do their research, and is now selling.
Demirors’ remarks on CNBC follow a wild ride for bitcoin Tuesday, which began with a heavy drop below the key $30,000 support level before bouncing back into positive territory in the afternoon.
“I think part of this is just the cycle we go through every several years with crypto, but we are seeing a lot of new inflows.
While Demirors said “bitcoin has always been volatile,” she explained that during the steep pullback in May, there was “a bunch of leverage coming off across the board.