Glassnode Data Shows 7.75M BTC Underwater at $76K Bitcoin Price

With Bitcoin trading at $76,643, around 7.75 million BTC are currently being held at a loss, highlighting a sizeable share of supply trading below its original purchase level amid continued market pressure.

Glassnode notes that this “supply overhang” is a common feature of bear market conditions. Over time, it is typically worked through as weaker holders exit their positions, gradually allowing the market structure to stabilize and reset.

Source: Glassnode