Bitcoin (BTC) is on track to end the first month of the year on a very positive note. Since the turn of the year, bitcoin has taken a different direction and green days seem to have become the new normal. Since the start of the new year, the bitcoin price is currently 40% higher.
Recently after the collapse of FTX, things looked very different. At the time, you could read in the Bitcoin news that BTC investors could write a record of losses.
Bitcoins in loss
The tide can turn quickly, Bitcoin has once again proven that. Where everyone was first waiting for a price of $ 10,000 or less, many now seem to be on the way to new all time highs.
The bitcoin supply in loss is a metric that measures the absolute number of coins that are currently in the red. It compares the price at which the coin in question last moved with its current rate. The moment the price falls below the rate, it is naturally considered a coin in loss.
According to on chain data BTC supply is in loss at 32%, which is the lowest point in nine months.
BTC addresses in red
In addition to the BTC supply in loss, you can also look at the bitcoin addresses that are in the red at the current price.
Historically, the price of BTC finds its bottom when a majority of bitcoin addresses are in the red. In 2019, the percentage of addresses with a loss at the time of the bottom was 55%, and in 2015 it was 62%.
According to data from blockchain analytics company IntoTheBlock is currently 36% of the total number of addresses in the red. On the other hand, 61% of all wallets are currently allowed to record a profit and 3% are playing break even.
In November you could read that the percentage of addresses with a loss was still 51% at the time. This was a few weeks after crypto exchange FTX had fallen and the price was one low had put down about $15,500.