Bitcoin Nears $60K as Over 50% of Supply Sits in Loss, Matching FTX-Era Extreme

BTC3.32%
According to CryptoQuant data, Bitcoin was trading near $61,337 as of press time today, down more than 2% in the last 24 hours and over 24% in the past month from $82,000 in mid-May. The on-chain metric Bitcoin Supply in Loss has surpassed 50% for the first time since November 2022, when Bitcoin collapsed below $20,000 following FTX's bankruptcy, indicating that over half of the circulating BTC supply is now held at a loss based on its last transaction price.
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