Around 9 Million Bitcoin Now Held at a Loss Data Shows

TL;DR:

• On-chain data

reveals that nearly half of the circulating

$BTC

supply was acquired at prices higher than the current market value.

• Every recovery attempt is thwarted by investors seeking to “break even” as soon as they reach their entry price.
• A lack of new buyers and

institutional disinterest

are prolonging the digital asset’s stagnation.

**The cryptocurrency market is currently stifling in a complex technical structure that has been associated with the crypto industry. This has become a psychological barrier that almost insurmountable to the volume of Bitcoin held at. At least 9 million $BTC were purchased at price levels significantly higher than the ones currently bought, new data shows. ** ** .

This dynamic in this market generates break-even selling pressure, a phenomenon where investors who have suffered months of decline use any small rally to sell. They flood the market with supply in an attempt to reclaim their first capital, and stop any bullish momentum immediately after they begin making it up.

This is a short term, but because there are no positive catalysts for **Furthermore, general sentiment has entered – and so far it’s been ‘deep freeze’. The effect is that as a result, buyer exhaustion is clearly visible and the asset in ‘a consolidation range which frustrates retail traders and large-scale holders. ** **

The “Supply Wall” and Investor Psychology

Analysts at **Bloomberg say that this is one of the most severe price traps ever recorded in recent cycles. A large part of the supply is “under ” and since it has been so much of its supply, an unprecedented wave of institutional capital would have to be used to absorb the supplies that was delivered during each bounce. ** **

The $BTC deposits are growing – **Meanwhile, exchange data shows that “the price approaches key resistance levels” and is latently ready to sell. Consequently, the market seems to be in a phase of silent capitulation – where time is only one cleaning factor. ** **

Bref, until the number of Bitcoin units held at a loss is reduced by ‘big purge or massive demand’ sideways trading will continue to be profitable in summary. But traders should closely monitor current support levels, as holder patience may be out if the stagnation continues through the rest of the quarter.

Thanks for reading Around 9 Million Bitcoin Now Held at a Loss Data Shows