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Analysts at blockchain firm Glassnode say the vast majority of Bitcoin holders are now at profit, with only 13% of the total supply held in a state of loss. 
With Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) reaching the $50,000 mark last seen in December 2021, only 13% of the total supply now held at a loss. 
According to Glassnode’s <a href="https://insights.glassnode.com/the-week-onchain-week-07-2024/" target="_blank" rel="noreferrer noopener">data</a>, approximately 87% of Bitcoin was acquired below the $48,000 mark, with a significant concentration of short-term holders (those holding for less than 155 days) clustered between $40,000 and $45,000. In contrast, long-term holders, defined as those holding for more than 155 days, primarily constitute the remaining 13% of the supply held in a loss position. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="590" src="https://crypto.news/app/uploads/2024/02/xcvcjhdfog-1024x590.png" alt="Bitcoin surges past $50,000 as loss-holding supply dwindles to 13%, Glassnode says - 27" class="wp-image-14247862">
 <figcaption class="wp-element-caption">
 LTH supply vs GBTC | Source: Glassnode
 </figcaption>
</figure> 
 You might also like: <a href="https://crypto.news/bitcoin-surpasses-the-50k-mark-positive-sentiment-growing/"> Bitcoin surpasses the $50k mark, positive sentiment growing </a> 
Analysts add the total volume of long-term holder supply held in loss is currently around 777,000 BTC, and is “trending towards the zero bound” as prices soar. Only 6.5% of the aggregate long-term holder supply is therefore held in loss, Glassnode explains. 
<blockquote class="wp-block-quote"> 
 “Previous instances where the LTH [long-term holder] cohort held a similar coin volume in loss corresponds with early bull market conditions (with 2019 as an arguable outlier).” 
 Glassnode 
</blockquote> 
The shifting price dynamics coincide with a notable change in sentiment within the crypto community, as evidenced by the Fear and Greed index, which <a href="https://crypto.news/crypto-fear-and-greed-index-reaches-highest-level-since-november-2021/" target="_blank" rel="noreferrer noopener">recently</a> reached 79 out of 100 points for the first time since Bitcoin’s all-time high in November 2021. 
This surge in sentiment is deemed “extremely high,” especially when compared to mid-October 2023 when the index only recovered to a neutral 52 points, anticipating the approval of spot Bitcoin exchange-traded funds (ETFs), as previously reported by crypto.news. 
 Read more: <a href="https://crypto.news/bitcoin-50000-etf-net-assets/"> Bitcoin reaches $50k as ETFs record $2.8b net assets in January </a>

Bitcoin surges past $50,000 as loss-holding supply dwindles to 13%, Glassnode says

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