BTC Supply in Loss Held by Short-Term Holders at Highest Level Since FTX Collapse

Short-term bitcoin holders are currently holding approximately 2.8 million BTC at a loss, the highest amount recorded since the FTX collapse in late 2022. This situation reflects the difficulties faced by those who entered the market recently, particularly with bitcoin's decline from around $104,000 in mid-June to present levels. In contrast, U.S. spot ETFs' assets under management have only dropped by about 4%, suggesting that this downturn is not primarily driven by ETF outflows but by many long-term holders who have been selling off their assets. Data indicates that long-term holder supplies have decreased significantly from 14.75 million BTC to 14.30 million BTC since July 2025. This behavior appears to be linked to lifestyle choices rather than pessimism towards bitcoin itself, influenced by the launch of U.S. ETFs and liquidity around a $100,000 price target. Overall, the current market dynamics demonstrate a disparity between short-term traders and long-term holders amid ongoing volatility and corrections in bitcoin's price.

Source 🔗