How much Bitcoin supply is being held at a loss in May?
Summary ⚈ Bitcoin supply held at a loss has dropped from 25% to 11% in May. ⚈ Over 2.17 million BTC, worth $210 billion, are still held at a loss. ⚈ BTC nears $97,000, with a 3.26% weekly gain and a possible $100K retest soon. Bitcoin (BTC) staged a move past $90,000 on April 22 following significant inflows — most of which came from retail trading. While the leading cryptocurrency has approached $97,000 it has struggled to hold that level despite positive recent price action. In tandem with the increase in price, the proportion of BTC supply currently being held at a loss has shrunk significantly — from nearly 25% in early April to 11% as of May 2, per data from market intelligence platform CryptoQuant analyzed by Finbold. Low levels such as these typically reduce selling pressure and supports bullish sentiment. BTC supply in profit chart. Source: CryptoQuant To be more precise, some 2,174,467 Bitcoins, worth a combined total of roughly $210.33 billion, are...
