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Most BTCs are being sold at a loss right now

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It was only a few months ago BTC on an unprecedented wave. The price reached a record, which led to the arrival of new buyers and demand led to high trading volumes.

Most BTCs are now trading at a loss

Not only has trading volume fallen since then, but most of the coins currently being traded are sold by investors who have bought top – or very close – according to a new report from data provider Glassnode:

“The BTC network is currently settling $ 5.3 billion / day, compared to $ 15.5 billion in the daily volume settled at the peak of 2021,” the report notes, adding: “From the volume of transactions being settled, the dominant majority are coins with realized losses. ”

Most BTCs are being sold at a loss right now
source: Glassnode

People bought their BTC for more than they sell it for. It’s not hard to understand why. The price has dropped by more than 50% from its all-time high, and a drop below $ 30,000 cannot be ruled out. Another aid identified by Glassnode is around $ 26,500.

The analytical company found that 33% of BTCs in active circulation are in unrealized losses. This means that one third was purchased for a price above the minimum of $ 30,000. Given that the price of BTC never reached such a level until January of this year, we are talking about short-term holders.

Most BTCs are being sold at a loss right now
source: Glassnode

Long-term holders are doing well, even though they bought a few coins at the top of the BTC. According to Glassnode, they have control over 75% of the outstanding supply, of which 92% is in profit. And it assumes that if the current trend continues, the number will increase to 80% of the outstanding supply by September.

Most BTCs are being sold at a loss right now
source: Glassnode

Lack of liquidity could send the price up again. “The bull pressure has historically been triggered [long term hodlers]who held 65% (2x 2013), 75% (2017) and 80% (2020) of the circulating supply,” says Glassnode.

As a result, traders should not expect the price of BTC to rebound in August, for example. But those who stick for a long time could do it without selling at a loss.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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