Brace For More Downtrend: 15% Of Bitcoin Supply Is Now In Loss

2021-11-24 22:00

Data shows around 15% of the total Bitcoin supply is now in loss, a value that has historically been sufficient to push the price down.

Percentage Of Bitcoin Supply In Profit has Fallen Down To Just 85%

As per the latest weekly report from Glassnode, the total BTC supply in profit has fallen down to just 85% this week, meaning that 15% of the supply is now in loss.

The “percent supply in profit” is a Bitcoin indicator that highlights the share of the total supply that’s currently in profit.

The metric works by looking at what price each coin in the chain was last moved at. If this price was less than the current price, then the coin is said to be in profit. While if this price was higher, then the coin is considered to be in loss.

If the indicator attains very high values (more than 95%), then a Bitcoin market top may follow soon. But if the metric’s values are low enough (less than 5%), then a bottom could be formed instead.

Related Reading | IMF Report On El Salvador Is Positive… Except For Everything Bitcoin-Related

Now, here is a chart that shows the trend in the value of the percent BTC supply in profit over the past year:

Looks like only 85% of the BTC supply is now in profit | Source: The Glassnode Week Onchain (Week 47)

As the above graph shows, the percent supply in profit has severely fallen off in the past week as Bitcoin’s price declines. Now, around 15% of the total supply is in loss.

The report mentions that the 85%-90% zone may be considered as a “bull and bear transition zone.” There are two instances of the indicator entering this zone previously in the chart.

Related Reading | Inverse Signals: Why Bitcoin Weakness Is Attributed To Dollar Strength

The first was when the May Bitcoin crash happened, and the second coincided with the El Salvador Day crash. The report notes that a value of 85% is enough to push the price of the crypto down if no higher value is clamed in a reasonable timeframe, similar to what happened during those instances.

BTC Price

At the time of writing, Bitcoin’s price floats around $56.8k, down 6% in the last seven days. Over the past month, the coin has lost 5% in value.

The below chart shows the trend in the price of BTC over the last five days.

BTC's price slides down in the last few days | Source: BTCUSD on TradingView

Over the last week, Bitcoin has mostly consolidated below the $60k price mark. Currently, it’s unclear when the coin may recover, but if the percentage of supply in profit is anything to consider, BTC may decline even further.

Featured image from Unsplash.com, charts from CryptoQuant.com, TradingView.com

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Supply Shock (M1) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 M1

supply down loss bitcoin total profit fallen

Источник: newsbtc.com

supply down → Результатов: 126


Ethereum Supply Shock Deepens: Exchange Reserves Decline 18% In 5 Months

As Ethereum’s price approaches new all-time highs, the coin’s supply shock seems to be deepening with exchange reserves declining 18% in the last five months. Ethereum Exchange Reserves Are Down 18% In The Last 5 Months As pointed out by a CryptoQuant post, ETH’s exchange reserves seem to have declined a lot in the last few months, signaling that a supply shock might be brewing in the crypto.

2021-10-30 22:00


Bitcoin Supply Shock: Reserves Drop To Lows Not Seen Since October 2017

Bitcoin spot reserves continue the recent trend of decline as values now stand at the lowest since October 2017. This shows the supply shock is tightening its grip. Bitcoin Supply Shock Narrative Grows Further As Spot Reserves Decline To October 2017 Levels As pointed out by a CryptoQuant post, BTC spot reserves have dropped down to lows not seen since October 2017.

2021-10-9 22:00


Фото:

Iran to Shut Down Licensed Crypto Miners in Peak Hours of Power Consumption

Citing a need to maintain a stable electricity supply for other users, Iran will be pulling the plug on cryptocurrency mining farms whenever power consumption peaks. The measure intended to deal with shortages will target licensed facilities despite the government admitting that illegal crypto miners burn much more energy. Licensed Crypto Miners Use 300 MW, […]

2021-5-23 07:00


Фото:

Hedge Fund Manager Brian Kelly Says Increasing Institutional Interest in Bitcoin Down to its Fixed Supply

Hedge fund manager Brian Kelly says the surging number of institutional investors owning bitcoin is down to the digital currency’s core value proposition- a fixed coin supply. On the other hand, the same institutional investor interest is helping to build confidence in the top cryptocurrency while taking away some of the perceived risks.

2020-11-14 07:00


Venezuela Bans Crypto Mining At Government Provided Housing Due to Energy Demands

The Venezuelan government outlaws mining of Bitcoins (BTC) in any state-owned public housing projects due to ‘high electricity consumption’ and ‘disruption of the national grid supply. ’ However, a group of critics on the moving state the problems facing electricity in the country are inherent to the government’s negligence.

2020-7-20 17:00


User Pays $2.6 Million to Transfer Just $130 Worth of ETH; By Far the Highest Fees Ever Paid

After climbing above $240, the second-largest cryptocurrency has slowed down and is keeping around this level. The percent of Ether supply in profit, which is the percentage of calculating ETH whose price at the last time it moved on-chain was lower than the current price, is currently hovering at 80%. It is the third attempt […]

2020-6-11 17:56


Фото:

Исследование: объем заблокированных в стейкинге токенов не влияет на их цену

Аналитики Messari пришли к выводу, что заблокированный в стейкинге объем эмиссии не влияет на рост цены нативных токенов PoS-сетей. All of the staking protocols that have less than 40% of its liquid supply staked are down in price this year.

2020-4-5 13:02


Analyst: Stellar (XLM) Decreasing Supply Could Increase Chances of Exchange Delisting

The Stellar Development Foundation’s (SDF) unanimous decision to burn XLM’s supply by half could spell troubles for the project, believes noted bitcoin maximalist WhalePanda. The anonymous trader on Tuesday said the cryptocurrency exchanges could start treating XLM as security, explaining that SDF showed excessive control over the blockchain asset when they cut down its supply.

2019-11-5 15:01


Statizex ICO

We defined our development strategy based on empirically acquired knowledge and on the analysis of the work of existing platforms. We spent a lot of time, effort and money developing the statizex platform, faced many challenges and solved many technological issues during its creation, this allowed us to develop a trading platform that fully meets the modern market requirements and high modern technological standards of speed and safety.

2019-10-24 21:03


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival

Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.

Bitcoin Diamond Hands Still Unbroken: 30.7% Of Supply Dormant For 5+ Years

Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]

Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time?

Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.

Bitcoin Difficulty Jumps 3% As Hashrate Slowly Recovers

On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]

Bitcoin Investors Have Turned Greedy Again: What Could Be Next For BTC?

Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]

These Are The Biggest Bitcoin Support & Resistance Zones, Analyst Reveals

An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.