Live updates: More bitcoin is now held at a loss than at a profit
Key takeaways
- It is the first time loss-making supply has overtaken profitable supply since the current cycle began and reflects how deep the correction from bitcoin's $109,000 January peak has cut.
- Historically, these crossovers have landed near periods of peak financial stress and capitulation among newer buyers.
- Bitcoin traded at $61,361 on Thursday, up 0.7% on the day and 2.5% on the week, still roughly 44% below January's all-time high, per CoinDesk data.
It is the first time loss-making supply has overtaken profitable supply since the current cycle began and reflects how deep the correction from bitcoin's $109,000 January peak has cut.
Historically, these crossovers have landed near periods of peak financial stress and capitulation among newer buyers. They have also marked the point at which coins migrate from weaker hands to stronger ones, since only holders with high conviction tend to sit on losses rather than sell. Long-term holder accumulation and rising wallet-cohort balances across several size brackets have run alongside this latest deterioration in profitability.
Bitcoin traded at $61,361 on Thursday, up 0.7% on the day and 2.5% on the week, still roughly 44% below January's all-time high, per CoinDesk data. Ether added 4.2% to $1,702, and Solana led the majors at 18.6% on the week to $80.44, with volume running above $3.6 billion.