At $96K, nearly 99% of BTC investors accumulating in past 155 days are holding at a loss
With Bitcoin trading at $96,000, 99% of investors who bought in the last 155 days are currently holding at a loss.Summary
As the BTC price dropped to $96,000, Glassnode data indicates that a significant 99% of investors who purchased Bitcoin within the preceding 155 days are currently holding their assets at a loss. This price slide, which has seen Bitcoin down for 12 straight days, is partly attributed to its correlation with the falling Nasdaq index. Despite the bearish price action, positive narratives persist, including Bitcoin's appearance in a New Yorker cartoon, which some view as a sign of cultural currency triumphing over price charts. Furthermore, institutional interest remains strong, with major entities like a "$1 trillion AUM bank" seeking briefings, and Harvard's ETF buying spree highlighting significant accumulation via regulated vehicles, such as the UAE's sovereign wealth fund increasing its Bitcoin ETF exposure. On-chain analysis suggests that the current price consolidation and sell pressure are primarily driven by existing spot Bitcoin holders exiting their positions, rather than manipulation or options markets.
(Source：CryptoSlate)