Bitcoin supply in loss reaches record high 10.83 million BTC

Bitcoin supply in loss reached a record high of 10.83 million BTC on May 16, 2024, according to data from Glassnode. This metric indicates the total amount of Bitcoin currently held by investors at a price lower than their purchase price. Concurrently, long-term holders, defined as those holding Bitcoin for over 155 days, now control a record 14.8 million BTC. This suggests a significant portion of the market is held by investors with a conviction in the asset's long-term value, despite current unrealized losses. The divergence between the growing supply in loss and the increasing accumulation by long-term holders highlights a complex market sentiment, with many investors choosing to hold through the downturn rather than sell at a loss.