On-chain data from Glassnode suggests that 83.7% of the Bitcoin short-term holder supply is currently being held at an unrealized loss.
Bitcoin Short-Term Holder Supply Has Plummeted Into Losses
According to the latest weekly report from Glassnode, only 16.3% of the short-term holder supply is in profit right now. The relevant indicator here is the “percent supply in profit,” which measures the percentage of the total circulating Bitcoin supply carrying some gains.
This metric works by going through the on-chain history of each coin in circulation to see what price it was last moved/transferred at. If this previous selling price was less than the current spot price, then that particular coin currently carries a profit.
The counterpart indicator to the supply in profit is the “supply in loss,” which naturally keeps track of the opposite type of coins. This metric’s value can also be obtained by subtracting the supply in profit from 100 (since the total percentage must add up t
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