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Amid persistent bearish pressure in the crypto market, Bitcoin supply in unrealized loss hit a new record of 10.83 million BTC, according to Glassnode on-chain data. This represents the highest-ever count of coins held by addresses with an average purchase price above the current spot price. Long-term holders (holding for over 155 days) control roughly 75% of the circulating supply, providing a key support layer despite the unrealized losses.
The record metric underscores the severity of the current Bitcoin correction, but the 75% dominance of long-term holders reflects strong conviction and reduces the likelihood of panic selling. Per market data, Bitcoin trades near $34,980 (close on May 15, 2026), well below its all-time high. Historically, high levels of unrealized loss have coincided with market bottoms, though they do not guarantee an immediate reversal.
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Sign InOn the technical side, near-term resistance stands at $35,390 (the May 15 high), while support holds at $34,750. Traders are watching macro catalysts this week, including a speech by Fed Governor Waller and Canadian inflation data, which could sway risk appetite globally. With no major crypto-specific economic events on the calendar, attention remains on regulatory developments and long-term holder behavior.