BTC Price Trades at $66K With 44% of Supply Now in the Red
Bitcoin's price drop to $66K has resulted in $600B in unrealized losses for holders, with 44% of the circulating supply now underwater.Summary
Bitcoin traded at $66,450 on Thursday, representing a 47% decline from its all-time high of $126,000 reached in October 2025. This price decrease has left approximately $600 billion worth of Bitcoin holdings experiencing unrealized losses, affecting over 44% of the circulating supply. Data from Glassnode indicates this situation resembles market conditions in Q2 2022, suggesting a need for significant redistribution of coins. Long-term holders are beginning to sell at a loss, with realized losses reaching $200 million, signaling capitulation. Furthermore, the spot price is below the average cost basis for US spot Bitcoin ETF holders, adding to the pressure. Outflows from Bitcoin investment products and a contraction in apparent demand, particularly from US investors, further contribute to the bearish sentiment.
(Source：Cointelegraph)