Most Long-Term Bitcoin Holders Underwater at Current Price Levels
Dow Jones01:23
1322 ET - Long-term bitcoin holders own about 4 million bitcoin that were bought between $85,000 and $118,000 apiece, according to analysts from Glassnode. That means they are generally underwater at the current price level, which is hovering about $80,000, the analysts say. More than half of all of long-term holders' coins were bought above that critical level, they say. If the price recovers toward $85,000, many of those long-term holders may sell to get their money back, the analysts say. ETF demand has faded, though each new dip now realizes smaller losses, they say.
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