Bitcoin supply in loss reaches record high 10.83 million BTC
CoinDesk 2026-06-25 10:28:37
Context: Bitcoin's price drop to around $59,100 on Wednesday led to a record 10.83 million BTC being held at a loss, according to data from Glassnode. This significant event occurred as the cryptocurrency market continued to experience weakness, with long-term holders showing continued conviction despite the market downturn. The current supply in loss has exceeded previous peaks seen during past bear-market bottoms.
Key Facts
- Bitcoin's drop to around $59,100 on Wednesday pushed 10.83 million BTC into a loss, the most on record, exceeding peaks seen during past bear-market bottoms.
- Long-term holders now own a record 14.8 million BTC, with more than one-third at a loss, highlighting continued conviction despite market weakness.
- 5.58 million BTC are held at a loss by long-term holders, defined by Glassnode as investors who have held their coins for at least 155 days, which is the second-highest level on record.
- The current supply in loss of 10.83 million BTC is broadly consistent with levels seen near cycle lows in 2019, 2020, and 2022, when around 10.5 million BTC were in loss.
- Long-term holders control approximately 75% of the circulating supply, with 37% of their holdings, or 5.58 million BTC, currently at a loss, demonstrating their historical trend of accumulating and holding throughout bear markets.