Almost 47% of Bitcoin’s Supply at a Loss as BTC Price Crashed Below $30K

Bitcoin’s price crashed below $30K yesterday (on Binance) for the first time since July 2021. It reached a low of $29,730.

  • Data from the popular analytics resource, CryptoQuant reveals that 46.8% of Bitcoin’s supply is at a loss. This means that investors acquired it at a higher price.
Source: CryptoQuant


  • This happened as Bitcoin’s price plunged below $30K for the first time since July 2021 (on Binance).
  • Interestingly enough, the price also went below the average acquisition cost for MicroStrategy’s BTC, which, at the time of this writing, sits at $30,700 per coin.
  • The company spearheaded by Michael Saylor – one of Bitcoin’s most vocal proponents – has bought a total of 129,218 bitcoins at this price.
  • Data shows that this has happened a few times in the past, where most recently, it took place during the Covid-19 crash that happened in March 2020, and on all occasions, it represented good accumulation opportunities.
Related:  The Nexo Booster is bringing leverage trading to Nexo
Source: CryptoQuant

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: