Almost everyone who has bought Bitcoin (BTC) recently is sitting on a loss, according to Glassnode's latest on-chain report, "Finding a Floor." The analytics firm found that more than 95% of the Bitcoin held by recent buyers is now underwater. This means they bought at higher prices than where the coin trades today. It is a level of widespread pain that links to market capitulation. Glassnode tracks this with a metric called the Percent of Short-Term Holder Supply in Profit, which gauges how broadly profitability is distributed among newer investors — those who have held for less than roughly five months. The ... (full story)