About 61% of BTC holders are underwater as market stagnation persists

About 61% of BTC holders are underwater as market stagnation persists

About 61% of BTC holders are underwater as market stagnation persists

Most bitcoin investors take losses during this period of flat price action.

After the Terra implosion and subsequent market deleveraging, Bitcoin bottomed on June 22 at $17,600. Although the price of BTC rallied to $25,300 about two months later, it’s fair to say that the price action has stalled. Especially since mid-September, when BTC has been fluctuating between $18,100 and $20,500. On-chain metrics show that most BTC investors are underwater, putting further pressure on tentative market momentum.

Bitcoin Entity Adjusted UTXO Realized Price Distribution

The UTXO Realized Price Distribution (URPD) metric shows the prices at which the current set of Bitcoin UTXOs was created. Each bar in the chart below represents the number of bitcoins in stock that have recently moved within each price segment. Because this is an enterprise-adjusted company, the average purchase price for each company is used to determine its balance within the specific category. To have a more representative chart, currency movements between addresses controlled by the same company are not considered.

The price of many multiple users would misrepresent the data, leading to unwanted artefacts. Investors who bought Bitcoin for $17,600 or less make up just 25% of token holders, with 14% buying between $17.6k and $22k. Meanwhile, 61% of token holders had gone into hiding at the bottom of the market.

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