Bitcoin Supply at Loss Returns to Bear Market Levels

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 6 days ago

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Supply at Loss Rises: As of May 2025, approximately 7.75 million Bitcoins are held at a loss, testing investor patience, with current trading just above $77,000, indicating market fragility.
Holder Transition: In 2026, Bitcoin holders shifted, with strategic whales accumulating in a new price range while old whales became major sellers, altering the market's supply-demand dynamics.
Reduced Market Volatility: Bitcoin's volatility has dropped to 1% over the past month; however, this tight trading range may still lead to liquidations and speculative trading, increasing market uncertainty.
Retail Panic Selling: Over the past 12 months, the largest 'humpback whale' wallets shed 8.5% of their holdings, while smaller whale wallets decreased by 3.72%, indicating that retail investors are more prone to panic selling during market downturns.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	63516.559	67101.619	70909.879	74494.939	78303.199	81888.259	85696.519
Fibonacci	67101.619	69925.868	71670.691	74494.939	77319.188	79064.011	81888.259

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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