Japan · Bitcoin · Circle · CoinDesk
Bitcoin supply in loss reaches record high 10.83 million BTC
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As bitcoin BTC $ 61,062.11 fell below $59,100 on Wednesday, the number held at a loss rose to a record 10.83 million BTC, data from Glassnode shows.
Key facts
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- As bitcoin BTC $ 61,062.11 fell below $59,100 on Wednesday, the number held at a loss rose to a record 10.83 million BTC, data from Glassnode shows
- Looking at previous bear market bottoms, around 10.5 million BTC in loss is broadly consistent with the levels seen near cycle lows in 2019, 2020 and 2022
- Breaking this down further, 5.58 million BTC are held at a loss by long-term holders (LTHs), defined by Glassnode as investors who have held their coins for at least 155 days
Summary
Bitcoin's drop to around $59,100 on Wednesday pushed 10.83 million BTC into a loss, the most on record, exceeding peaks seen during past bear-market bottoms. Long-term holders now own a record 14.8 million BTC, with more than one-third at a loss, highlighting continued conviction despite market weakness. The largest cryptocurrency has tested the $60,000 level repeatedly since February, briefly falling below it several times. Looking at previous bear market bottoms, around 10.5 million BTC in loss is broadly consistent with the levels seen near cycle lows in 2019, 2020 and 2022.