🚨 BITCOIN UPDATE — Short-Term Holders Now Deep in Losses
On-chain data reveals a pronounced trend among Bitcoin’s short-term holders — those holding BTC for less than ~155 days — where most recent buyers are now experiencing unrealized losses as the price trades below their average cost basis.
CoinDesk
According to Glassnode metrics, short-term holders collectively hold roughly 2.8 million BTC at a loss, the highest level of underwater supply since the FTX collapse in 2022.
CoinDesk
🔹 This reflects a major capitulation phase — many recent entrants bought at higher prices and are now underwater.
🔹 Historically, extreme short-term losses often coincide with market shakeouts that precede recovery phases, as weaker hands exit and longer-term holders absorb supply.
🔹 Long-term holders continue to act differently, showing more stability while short-term holders face psychological and realized loss pain.
This data doesn’t guarantee a bottom yet — but it does signal a potential turning point in market structure as pain among short-term participants peaks.
