Bitcoin Holding Structure Weakens Amid Market Challenges
- Annual balance growth for whale accounts (holding between 1,000 and 10,000 Bitcoin) has turned negative, marking the fastest contraction this year.
- Monthly balance growth across major cohorts has been near zero since February, indicating a shift from accumulation to distribution.
- Long-term holder supply reached a record of 15.8 million BTC, but this signals a lack of new market entrants.
- Approximately 40% of Bitcoin’s supply is currently at a loss as prices hover around $73,700.
- Analysts suggest that the absolute price bottom could be between $40,000 and $45,000 based on unrealized losses.
The deterioration in Bitcoin’s holding structure reflects broader market challenges amid geopolitical tensions and economic pressures. The decline in whale activity and the increase in unrealized losses highlight investor caution in the current environment.
With around 40% of Bitcoin supply held at a loss, the market faces significant pressure as it navigates these challenging conditions.(Source)
