High percentage of Bitcoin, ETH, SOL held at a loss: Is it a bear market sign?
One analyst found that 40% of Bitcoin is held at a loss, while ETH and SOL data currently stand at 40% and 75% respectively. Should investors be worried?
Recent data from Glassnode showed Bitcoin (BTC), Ether (ETH), and Solana (SOL) reflecting record high levels of their supply held at a loss.
However, a closer examination of the locked supply, institutional holdings, and staking structures revealed that the effective liquid supply under pressure is significantly lower than the implied percentages, especially for Ether and Solana.
Key takeaways:
