• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

2023-03-31

XRP Perpetual Futures Open Interest skyrockets to $610 million

2023-03-31

CNBC’s Jim Cramer calls Binance “way too sketchy”

2023-03-31
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Siemens and MIT Tech Review Probe ‘The Emergent Industrial Metaverse’

    2023-03-30

    Disney Metaverse Division Reportedly Scrapped

    2023-03-28

    Animoca Denies $200M Metaverse Fund Cut

    2023-03-27

    Metaverse Trading Hits All-Time High

    2023-03-24

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

    2023-03-31

    XRP Perpetual Futures Open Interest skyrockets to $610 million

    2023-03-31

    CNBC’s Jim Cramer calls Binance “way too sketchy”

    2023-03-31

    Bitcoin reclaims $28k despite potential regulatory woes from Binance lawsuit

    2023-03-31

    Binance daily withdrawals double as users report problems off-ramping

    2023-03-31
  • Learn

    Best Bitcoin Mining Software — TOP Crypto Miners to Use in 2023

    2023-03-30

    Next Cryptocurrency to Explode 2023

    2023-03-30

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17
  • Market Cap
CryptoNewsMetaverse
Home»Bitcoin»Bitcoin Supply In Loss Hits A 9-Month Low
Bitcoin

Bitcoin Supply In Loss Hits A 9-Month Low

2023-01-27No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

According to on-chain data from CryptoQuant, a blockchain analytics platform, the Bitcoin supply in loss with the seven-day moving average stands at 32%, a nine-month low. This is the lowest level since April 2022, when the Bitcoin price was changing hands at the $40,000 range.

Bitcoin Supply In Loss At 32%

The Bitcoin supply in loss is a metric that measures the absolute number of coins presently in the loss-making territory. This data compares the price at which the coin in consideration was last moved and the spot rate. If the price is lower than the current price, then the coin is at loss.

The metric doesn’t quantify the size of the loss. Instead, it states whether it is in profits or loss without giving precise figures on each coin’s profitability or loss.

For traders, how the supply in loss changes over time could be used to pick out price bottoms or tops. Notably, analytic platforms say investors keep tabs, using the metric to timely enter or exit the market. Historically, when the supply in loss is within the 50-60% range, Bitcoin prices could be bottoming.

Presently, as per on-chain data, the Bitcoin supply in loss stands at 32%, the lowest in nine months, and could indicate that a trend reversal is imminent. 

According to an analyst, citing on-chain data from CryptoQuant, prices capitulate every time the Bitcoin supply in loss rises above 50%. Tops or peaks can be better timed by combining the supply in loss and the supply in profit lines.

The supply in profit tracker uses the same principle as its counterpart, supply in loss. However, it only considers the number of coins in profit since the last time they were moved. They move in the opposite direction.

After prices fell to 2022 lows in November 2022, the Bitcoin supply in loss decreased while those in profits increased. Considering the state of price action, when the two lines, representing supply and loss, cross each other, analysts can easily identify the point of reversals. The last time supply in loss crossed above supply in profit was in March 2020. Then, the Bitcoin prices rallied upwards from $5,000.

61% Of BTC Holders Are In Profit

With rising Bitcoin prices, most coin holders are in profit. Parallel data from IntoTheBlock reveals that 61% of coin holders are in the money. Only 36% are in red, and just 3% are at break even.

Bitcoin Price on January 27
Bitcoin Price on January 27| Source: BTCUSDT on TradingView

Over the past few trading days, BTC prices have been consolidating inside a channel, finding resistance around the $23,300 and $23,800 zone. 

Some traders are calling in tops. Meanwhile, sentiment data from IntoTheBlock indicates that traders are mostly neutral. 

Feature image from Canva, Chart from TradingView

Source link

9Month Bitcoin Hits loss Supply
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin reclaims $28k despite potential regulatory woes from Binance lawsuit

2023-03-31

Best Bitcoin Mining Software — TOP Crypto Miners to Use in 2023

2023-03-30

Texas bill seeks to eliminate incentives for Bitcoin miners

2023-03-30

CFTC Says Bitcoin, Ethereum and Litecoin Are Commodities in Lawsuit Against Binance and CEO Changpeng Zhao

2023-03-29
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Avalanche: Why AVAX traders must remain on the lookout for this

2022-06-17

This is why Ethereum 2.0 stands to be the greatest HODL incentive for ETH investors

2022-07-23

Bitcoin Breaks $30K, But Could Price Entrap Late Longs?

2022-05-30

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

2023-03-31

XRP Perpetual Futures Open Interest skyrockets to $610 million

2023-03-31

CNBC’s Jim Cramer calls Binance “way too sketchy”

2023-03-31
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$28,602.001.74%
  • ethereumEthereum(ETH)$1,830.932.03%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.15%
  • binancecoinBNB(BNB)$317.790.10%
  • usd-coinUSD Coin(USDC)$1.000.18%
  • rippleXRP(XRP)$0.540.17%
  • cardanoCardano(ADA)$0.4044286.76%
  • Lido Staked EtherLido Staked Ether(STETH)$1,823.221.83%
  • dogecoinDogecoin(DOGE)$0.0769513.05%