BlockBeats News, January 19 — Glassnode released data on social media indicating that the STH-NUPL indicator (measuring the ratio of unrealized gains and losses of new investors relative to the market value of short-term holders) has shown that since November 2025, new investors have been in a state of net unrealized loss. To bring this group back to a net profit state, the Bitcoin price needs to rebound to above approximately $98,000, which seems to be the minimum threshold.
BlockBeats Note: According to the historical patterns of bear markets and significant corrections, the ongoing decline during a bear market may cause these short-term holders (STH, new investors) to gradually give up their positions at unrealized losses (selling at realized losses). During the 2018 bear market, the STH-NUPL dropped to around -0.6, with many short-term traders cutting losses en masse, incurring huge losses, which ultimately cleared out a large amount of speculative bubbles and marked the market bottom before entering a new bull market. In the 2022 bear market (after the FTX collapse), STH realized record-breaking losses. After weak hands were cleared out, the price bottomed around $16,000, and then a bull market began.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The loss from mining a single Bitcoin is approximately $19,000, and mining companies are accelerating their transition to AI and high-performance computing businesses.
Gate News reports that on March 28, the current mining of a single Bitcoin faces a loss pressure of about $19,000. Mining companies are accelerating their transformation towards artificial intelligence (AI) and high-performance computing (HPC), and are funding related infrastructure investments by selling part of their BTC reserves. According to CoinShares data, publicly listed mining companies have announced a total value of over $70 billion in AI and HPC collaboration projects, indicating that the industry as a whole is transitioning towards computing power services.
GateNews37m ago
BTC ETF has regained $3.0 billion in outflows since the “1011 crash,” and by year-to-date the liquidity position is approaching flat
Gate News reports that on March 28, according to Bloomberg ETF analyst James Seyffart, between October 2025 and the end of February 2026, Bitcoin ETFs recorded about $9 billion in outflows, of which approximately $3 billion has been recovered. Although the overall net outflow since the "1011 crash" still exceeds $6 billion, looking at the performance this year, the inflows and outflows of Bitcoin ETFs have nearly balanced out, indicating a certain recovery in market sentiment.
GateNews51m ago
Bitcoin miners are becoming AI companies and selling their BTC to fund the transition
The bitcoin mining industry is undergoing the most fundamental transformation in its history, and the clearest sign isn't the hashrate or the difficulty adjustments. It's the balance sheets.
CoinShares' Q1 2026 mining report, published this week, reveals that the weighted average cash cost to
CoinDesk54m ago
