Max pain? Bitcoin hodlers are dealing with unprecedented losses.
Data from on-chain analytics firm
shows over one-third of the BTC supply being held at a loss by long-term hodlers — a new all-time high.Profitability has taken a serious hit in recent days, and on-chain data confirms that even the most seasoned investors are suffering., investors began to lose big, and at current levels of $17,200, the situation is not much better.
Glassnode shows that LTHs were holding 35.4% of the BTC supply — over 5.9 million coins — at a loss on Nov. 9, decreasing by only 1% on Nov. 10. Short-term holders held another 17% of the supply at a loss, and STHs in profit accounted for just 0.06% of the supply on Nov. 9.A wallet address is classed as an LTH or STH if it has held coins for more or less than 155 days, respectively.
The overall number of Bitcoin addresses in profit — 50% — is meanwhile currently at its lowest since March 2020 in the aftermath of the COVID-19 crash.BTC/USD sees unprecedented trend line crossover
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