"Bitcoin supply losses around 9%… not a cycle low"

JH Kim

Summary

On-chain analytics firm Glassnode said that about 9% of Bitcoin supply is currently in loss.
It said that at past cycle lows, more than 25% of supply recorded losses, but this decline is relatively shallow.
Glassnode said it is difficult to say that Bitcoin has reached the cycle low yet.

On-chain analytics firm Glassnode said on the 2nd (local time) via its official X (formerly Twitter) that "about 9% of the supply of Bitcoin (BTC), which is currently trading around $110,000, is in loss."\nGlassnode said, "At past cycle lows, more than 25% of supply recorded losses of up to 23%, but this decline is relatively shallow," adding, "It is difficult to say that Bitcoin has reached the cycle low yet."\nAs of 03:01 on the 3rd, Bitcoin is trading at $110,892.01 on the Binance Tether (USDT) market, up 1.76% from the previous day.\n