The scale of the chain-deficit chips continued to grow after bitcoin went down again this week, under $60,000. Glassnode shows that at the latest prices, 1,083 million BTCs are in a state of loss, at a record high.

This means that the amount of bitcoin in deficit, measured at the cost of purchase, in the current market is already above the level of near the bottom of previous bear rounds. Despite price pressures, long-term holders ' hold has not been significantly relaxed, but has continued to rise to new levels.

We've got a new record of our losses.

According to the data, on Wednesday bitcoin fell to about $59.1 million, pushing up to 10.83 million BTCs. Four months ago, this indicator peaked at about 9.8 million; it rose to 1,078 million at the beginning of June this year.

In historical terms, about 10.5 million BTCs are in a state of loss, having been found near low points in cycles in 2019, 2020 and 2022. The data went further, indicating that, following repeated price tests of $60,000, the scope of book losses continued to expand.

Innovative long-term holders

Glassnode defines an investor with at least 155 days of currency as a long-term holder. At present, about 5.58 million BTCs are in a state of loss, the second highest in history, only below the level of March 2020.

However, the total currency held by long-term holders has risen to 14.8 million, also at a new high. On the basis of about 20 million circulation supplies, this group of investors controls close to 75 per cent of the flow, of which about 37 per cent are at a loss.

Sixty million dollars of continued pressure

Since February of this year, Bitcoin has tested the level of $60,000 a number of times, and has briefly broken this position. As a direct result of the fall in prices, more leverage is diverted to the deficit zone, but there are still no large-scale indications of long-term holders overall.

In terms of the holding structure, short-term market pressure and long-term holders continue to co-exist. This fragmentation usually means that price volatility is driven mainly by marginal sales pressure and short-line funding rather than by long-term concentration of funds.