At $96k, nearly 99% of BTC investors accumulating in past 155 days are holding at a loss
As the BTC value tumbles beneath $100,000, Glassnode wish to share a miserable stat. If you’ve been stacking sats anytime since late spring, it’s truthful to say the honeymoon is formally on pause.
With Bitcoin buying and selling at $96,000, a whopping 99% of investors who purchased in the past 155 days are in the pink.
BTC value continues to slip however narrative is profitable the day
Nearly two weeks of promoting strain on the BTC value have left merchants and Twitter prophets alike choosing by way of the particles for indicators of life. As Bloomberg host Joe Weisenthal bemoaned:
“Bitcoin has been down for 12 straight days.”
Even if the BTC value motion feels much less like a “chop” and extra like bearish ballet, Bitcoin’s notorious correlation with Nasdaq hasn’t helped issues. Just ask the market makers at Wintermute, who level to tech’s slide as an anchor on the digital gold narrative. When these indices tumble, Bitcoin nonetheless stubbornly follows.
Still, for those who look laborious sufficient, there are all the time causes to smile. This week, Bitcoin made its cameo in a New Yorker cartoon, displaying that cultural foreign money generally trumps value charts.
So, for those who purchased the highest, you should buy a chuckle as nicely. As Human Rights Foundation’s Alex Gladstein identified in reply to Weisenthal, the BTC value could also be down, however:
“The New Yorker cartoon at this time is about Bitcoin changing fiat so we’re up.”
Institutions are watching (and accumulating extra)
Still, the flows on Wall Street inform a extra intriguing story. Bitwise CEO Hunter Horsley revealed that a “$1 trillion AUM financial institution” invited his workforce to temporary advisors on Bitcoin, turning what many see as a “slowdown” into acceleration. And he’s not alone.
Harvard’s ETF shopping for spree [LINK HARVARD ARTICLE] locations its Bitcoin IBIT publicity as its largest place, as main universities and sovereign wealth funds tiptoe into spot Bitcoin by way of regulated autos.
Other establishments have joined the parade, undeterred by the relentless outflows and sinking costs. The UAE’s sovereign wealth fund (Al Warda) has additionally elevated its Bitcoin ETF publicity by 230% since June 2025 and now holds 7.9 million shares valued at $517 million, as confirmed by latest filings and crypto market reviews.
Chopsolidation: What’s behind the promote strain?
If you’re questioning why rallies fizzle and bears hold feasting, on-chain analyst Checkmate spells it out: the sell-side strain is coming directly from spot Bitcoin holders.
“This has been the case your entire cycle to date. Took a whereas for folk to recognise it, however sell-side by present holders has been the first motive for these maddeningly lengthy durations of chopsolidation. Folks prefer to blame choices, or manipulation, however its simply exiting HODLers.”
One factor’s for certain, in markets like this, narrative is as a lot an asset because the cash themselves. While the BTC value is down, cartoon appearances and institutional briefings serve to remind us that volatility and visibility usually go hand in hand. And generally, a bear market is simply a comedian set-up for the following punchline.
The put up At $96k, nearly 99% of BTC investors accumulating in past 155 days are holding at a loss appeared first on CryptoSlate.
