Bitcoin has fallen to about $61,000, roughly 50% below its record high and under its 200-week moving average, as the share of underwater supply rises sharply from a month ago.
Bitcoin has pulled back to about $61,000, leaving it roughly 50% below its record high and below its 200-week moving average. The decline has pushed more than 50% of the token's circulating supply into loss-making territory for the first time since late 2022, up from around 30% a month earlier, Bloomberg reported. In crypto markets, a majority of supply being held below its purchase price is widely tracked as a sign of mounting stress among holders and can increase the risk of capitulation selling if weakness persists.