Nearly 11 million bitcoin are currently held below their purchase price, while long-term holders possess a record 14.8 million coins.
By James Van Straten|Edited by Sheldon Reback Jun 25, 2026, 10:28 a.m. 1 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Total Supply in Loss (Glassnode)SummaryShow- The recent decline of bitcoin to approximately $59,100 has resulted in 10.83 million BTC being held at a loss, marking a new record that surpasses previous bear-market lows.
- Long-term holders currently possess a record 14.8 million BTC, with over a third of these coins being held at a loss, demonstrating ongoing confidence despite market challenges.
As bitcoin BTC$61,240.95 dipped below $59,100 on Wednesday, the quantity held at a loss reached an unprecedented 10.83 million BTC, according to data from Glassnode.
The leading cryptocurrency has been testing the $60,000 mark consistently since February, occasionally falling below it. Four months ago, the supply in loss peaked at 9.8 million BTC and climbed to 10.78 million in early June.
When analyzing previous bear market bottoms, a loss of around 10.5 million BTC aligns with figures observed near cycle lows during 2019, 2020, and 2022.
Delving deeper, 5.58 million BTC are attributed to long-term holders (LTHs), identified by Glassnode as those who have held their coins for a minimum of 155 days. This figure is the second-highest recorded, just behind March 2020, when over 5.6 million of this group's bitcoin were in a loss position.
Nevertheless, long-term holders currently command about 14.8 million BTC, which is another all-time high. With around 20 million BTC circulating, these investors control close to 75% of the available supply, with 37% of that amount reflecting losses.
Historically, long-term holders tend to accumulate and retain their assets throughout bear markets, thereby increasing their share of the total supply. In times of peak bull-market enthusiasm, they typically start to sell into market strength.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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