Bitcoin slips under $75,600 cost basis as 65% of recent buyers sit underwater
Bitcoin has broken below the $75,600 cost basis for short-term holders, leaving about 65% of recently bought BTC underwater, per Glassnode. Stablecoin supply is shrinking at its fastest pace since June 2022 and spot Bitcoin ETFs have bled $1.6 billion over 20 sessions — even as mid-sized wallets quietly buy.
- 2 sources report it: X account @Cointelegraph, zycrypto.com.
- The source published it on Nov 11, 2026 at 5:20 PM.
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Bitcoin has dropped below the cost basis of its short-term holders, the $75,600 level that marks where recent buyers got in. With price under that line, roughly 65% of recently purchased BTC is now underwater, according to Glassnode.
The demand side is thinning out fast. Stablecoin supply has shrunk by $14.2 billion over 30 days — the sharpest contraction since June 2022 — while US spot Bitcoin ETFs logged $1.6 billion in net outflows across 20 straight sessions.
Not everyone is heading for the exits. Wallets holding between 100 and 10,000 BTC have started accumulating, a counterweight to the retreat in stablecoin liquidity and ETF flows.
Glassnode is watching $73,000 as the line that matters next. A sustained break below it, the analytics firm warns, could point to a longer stretch of consolidation for Bitcoin.
TopicsBitcoin · BTC · Glassnode · US spot Bitcoin ETFs
Written by Paparazzi with AI. Not financial advice.
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