46% of Bitcoin supply now in loss, near 2022 bear levels

Around 46% of BTC, or 9.09m coins, sit at a loss in early 2025, nearing 2022 bear‑market loss concentrations after the 2024–2025 rally unwound. Approximately 9.09 million Bitcoin (BTC), representing roughly 46% of the cryptocurrency’s circulating supply, is currently held…