Wednesday, September 27

Bitcoin Hodlers ‘Under Siege’ at $42,000: 30% of BTC Supply Turns Profit to Loss By Cointelegraph

©Reuters. Bitcoin Hodlers “Under Siege” at $42,000: 30% of BTC Supply Goes From Profit to Loss

() hodlers are facing a pivotal week in more ways than one, as the $42,000 level reignites a familiar battle.

As on-chain analytics firm Glassnode noted on Monday, 30% of the BTC supply is now at a loss, historically this has been a key number that bulls have defended.

Mixed views on the chances of a rebound Bitcoin’s plunge from $69,000 to current levels – at one point over 40% – is nothing unusual, but for long-term investors, there is specific reason to hope that current support holds.

Read the full article on Cointelegraph

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