Bitcoin Loss-Making Supply Tops 10.5 Million as Price Tests $61,300 Bear-Market Floor
Updated
Updated · CoinDesk · Jun 4
Bitcoin Loss-Making Supply Tops 10.5 Million as Price Tests $61,300 Bear-Market Floor
3 articles · Updated · CoinDesk · Jun 4
Summary
10.5 million bitcoin were sitting on unrealized losses as BTC fell to about $61,300, pushing loss-making supply above the 9.8 million coins still in profit for the first time this cycle.
That crossover has historically appeared only in deep bear markets and has often lined up with major bottoms, making the latest move a closely watched capitulation signal.
$61,300 also marks bitcoin’s 200-week moving average, a long-term support level touched in every previous bear-market cycle.
If BTC breaks below $60,000, the next major support sits near $54,000 — the realized price, a level bitcoin has traded under in every major bear market.
Past cycles show the loss-over-profit condition can persist from about one month to nearly a year, so the signal points to stress near a bottom but not how long weakness may last.