Over 50% of Bitcoin Supply Now Held at a Loss as Cost Basis Exceeds $88,000

A critical on-chain metric reveals a significant shift in Bitcoin's market structure. Data indicates that more than half of the invested Bitcoin supply now has a cost basis—the average price at which coins were acquired—above the $88,000 mark. This situation means the majority of current holders are in an unrealized loss position at current price levels. This data point, often analyzed by crypto investors, highlights the aggregate break-even point for the market and can signal potential future price pressure or accumulation phases depending on market sentiment and macroeconomic factors. The high aggregate cost basis underscores the conviction of long-term holders who purchased near recent all-time highs.