There are currently about 10.83 million BTC sitting below the cost basis, compared with 9.22 million BTC that are still in profit. This is the first time since the start of 2023 that the number of loss-making coins has exceeded the number of profit-making coins.
In the previous two cycles, whenever this phenomenon occurred, the market traded sideways for a few months to accumulate. Then it waited for major signals such as ETF inflows and improving macro conditions to kick off an uptrend.
In addition, the holder group aged over 5 months has continued to accumulate despite 37% of their BTC being at a loss. Holdings surged from 13 million since January to a new all-time high of 15 million BTC, equivalent to 75% of the circulating supply.
$BTC
In the previous two cycles, whenever this phenomenon occurred, the market traded sideways for a few months to accumulate. Then it waited for major signals such as ETF inflows and improving macro conditions to kick off an uptrend.
In addition, the holder group aged over 5 months has continued to accumulate despite 37% of their BTC being at a loss. Holdings surged from 13 million since January to a new all-time high of 15 million BTC, equivalent to 75% of the circulating supply.
$BTC