Bitcoin Short-Term Holder Supply in $75,000-$78,000 Band Rises 90,000 BTC

Bitcoin (BTC) short-term-holder supply shifted toward the $75,000-$78,000 cost-basis band after Binance’s security incident, with supply in that range rising by a net 90,000 BTC over two days.

The increase describes a change in the amount of Bitcoin assigned to the cost-basis band; it does not mean holders bought 90,000 BTC. At 2:59 a.m. ET (07:59 UTC) Nov. 1, BTC traded at $77,853.

Entity-adjusted short-term-holder supply totaled 2.2353 million BTC as of Oct. 31. Of that amount, 1.147 million BTC, or 51.3%, was at a floating loss.

The cost-basis distribution showed two large concentrations: 1.145 million BTC, or 51.2%, in the $78,000-$86,000 range, and 556,000 BTC, or 24.9%, in the $60,000-$65,000 range. Low-cost supply had declined by an average net 6,733 BTC per day in September, a pace that slowed considerably in October.

After the incident, supply in the $78,000-$87,000 range began to fall as the $75,000-$78,000 band grew. The post-incident decline covers a different range from the Oct. 31 concentration snapshot. The lower band offered some support against further declines, while the shift was not enough to confirm it could drive another advance.