Bitcoin Nears $100K as Fewer Holders Sit in the Red

Bitcoin briefly climbed past $90,000 on April 22, driven largely by a surge in retail activity, but has since struggled to sustain momentum above the $97,000 mark.

Despite the pause near key resistance levels, on-chain data points to a healthier market outlook.

According to CryptoQuant data, the percentage of Bitcoin supply held at a loss has fallen sharply—from nearly a quarter of the total supply in early April to just 11% by May 2.

This shift suggests fewer holders are underwater, which historically leads to lower sell pressure and stronger bullish sentiment.

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In absolute terms, around 2.17 million BTC—worth over $210 billion—is still being held at a loss. Although that figure is far from record lows, the sharp decline in distressed supply aligns with the ongoing rally.

Bitcoin has gained over 3% in the past seven days, trading at approximately $96,730 at the time of reporting. A push to the psychological $100,000 mark would require only a modest 3.38% uptick—well within reach barring any sudden negative catalysts.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.