Bitcoin Supply In Loss Reaches 50% As BTC Drops Below $20k
18 Juin 2022 - 9:00PM
NEWSBTC
On-chain data shows the percentage of the Bitcoin supply in loss
has surged to almost 50% now as the crypto’s price tumbles below
$20k. 49.94% Of The Total Bitcoin Supply Is Now Holding Some Loss
As pointed out by an analyst in a CryptoQuant post, the drop below
$20k has now put almost 50% of the supply underwater. The “percent
supply in loss” is an indicator that measures what part of the
total Bitcoin supply is currently in the red. The metric works by
checking the transfer history of each coin on the chain to see what
price it was last moved at. If the previous selling price of a coin
was more than the current BTC price, then that particular coin is
being held at some loss right now. Related Reading | Bitcoin
Long-Term Holders Now Own Nearly 80% Of Realized Cap On the other
hand, if the coin was last moved at a lower price than now, then
the coin is in profit instead. The supply in loss naturally only
counts the former type of coins. Now, here is a chart that shows
the trend in the Bitcoin supply in loss over the last few years:
Looks like the value of the indicator has been rising up recently |
Source: CryptoQuant As you can see in the above graph, the
percentage of the Bitcoin supply in loss has been going up in
recent weeks as the price has been crashing down. The latest drop
in the value of the crypto, which has now taken it below the $20k
level, has pushed a further amount of supply underwater. Related
Reading | Mike McGlone Says $20,000 Is The New $5,000 For
Bitcoin, But Is He Right? Now, the total percentage of the supply
in the red has reached very nearly 50%. Historically, periods with
value of the indicator between 50% to 60% have been when the coin
has observed bottoms before. Because of this, the range may be
ideal for accumulating Bitcoin. However, a real bottom may still
have some ways to go as the supply in loss has only just now
reached the 50% mark. During the last two bottoms, the value of the
metric was at least 55%. If a similar pattern follows now as well,
then the crypto may have potential for more downtrend before the
bottom is finally in. BTC Price At the time of writing, Bitcoin’s
price floats around $19.2k, down 33% in the last seven days. Over
the past month, the crypto has lost 37% in value. The below chart
shows the trend in the price of the coin over the last five days.
The value of the crypto seems to have plunged down over the past
day | Source: BTCUSD on TradingView Featured image from
Unsplash.com, charts from TradingView.com, CryptoQuant.com
Quant (COIN:QNTUSD)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Quant (COIN:QNTUSD)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024