Free brief Adler 💎 Insight· $30/mo

Bitcoin Supply in Loss

Share of all coins currently worth less than their last move price.

By Axel Adler Jr. · Updated

Bitcoin Supply in Loss today

As of , 41.2% of circulating bitcoin is held below its last-moved price; a week ago it was 38.1%. This is the share sitting at an unrealized loss.

Most coins in profit
Most coins in profitMost coins at a loss
Current
41.2%Most coins in profit
7-day change
+3.0 ppChange in daily readings
30-day average
34.2%
1-year average
38.1%
1-year low
21.8%Oct 4, 2026
1-year high
54.1%Jun 30, 2026

Bitcoin Supply in Loss chart

Daily values (UTC) · BTC price: left axis, log scale · % of supply: right axis

Zones

What each zone means

ZoneReading
Most coins in profitbelow 50.0%
Most coins at a lossabove 50.0%

Reference ranges describe this measure and are not trading instructions.

Readings

Last eight weeks

DateValueState
41.2%Most coins in profit
38.1%Most coins in profit
35.0%Most coins in profit
32.8%Most coins in profit
30.4%Most coins in profit
25.0%Most coins in profit
27.8%Most coins in profit
28.1%Most coins in profit
Guide

How this measure works

What it measures

Supply in loss is the share of all circulating bitcoin whose current price is below the price when those coins last moved.

Formula

100 × supply held at a loss / circulating supply

How to read it

A high share means many coins sit on paper loss. A falling share means coins are returning to profit. Supply in Profit is the mirror image. Over the last year the low was 21.8% on Oct 4, 2026 and the high was 54.1% on Jun 30, 2026.

Long ranges (5Y, 10Y and All) show a 7-day average to reduce daily noise. YTD and 1Y, the cards and the summary above use daily values. The tooltip shows both.

To keep everyday moves readable, the chart axis leaves out the most extreme 2% of readings in the selected range. Those days are marked with triangles at the chart edge, and the tooltip shows their value.

Limitations

The reference is the price when coins last moved, which may differ from what the current owner paid. Read it together with other charts.

Adler ☕️ AM

Latest Adler AM briefs

All briefs →
Tech Selloff Adds to Pressure on BitcoinShort Liquidations Hit $290 Million in a DayShort-Term Holders’ Profit Cushion Shrinks to 1%
FAQ

Bitcoin Supply in Loss, explained

What is Bitcoin Supply in Loss?

Supply in loss is the share of all circulating bitcoin whose current price is below the price when those coins last moved.

What is the latest Bitcoin Supply in Loss reading?

On Nov 7, 2026, the daily reading is 41.2%. A week earlier it was 38.1%.

How is the Bitcoin Supply in Loss chart calculated?

100 × supply held at a loss / circulating supply. The BTC price on the chart is the daily close of the same day.

How often is the Bitcoin Supply in Loss chart updated?

Once a day, after the UTC day closes. The date of the latest value is shown at the top of the page.

What history does the Bitcoin Supply in Loss chart cover?

The chart covers Oct 5, 2009 to Nov 7, 2026. Gaps are not filled with estimates.

Is Bitcoin Supply in Loss a buy signal?

No. Compare the reading with holder profitability, flows and leverage. A single measure does not determine the next price move.

Read this with

Holder behavior guide
MVRV RatioMarket value vs realized value: how far price sits above the average cost basis.Realized PriceThe average price at which every coin last moved, the market-wide cost basis.NUPLNet unrealized profit or loss held across all coins, as a share of market cap.Exchange NetflowBTC moving onto exchanges minus BTC leaving them, daily.
Adler 💎 Insight

Where do price, holders and demand disagree?

One report every Monday. $30 per month.

Get the weekly report