41.5% of 2025 BTC Purchases Sold at Loss, Turnover Near Bear Market Levels

On-chain data reveals 41.5% of 2025 BTC holdings liquidated at a loss, with supply dynamics mirroring previous bear market bottoms.

Woofun AI data shows that all BTC acquired in 2025 is currently underwater, with reductions attributed to forced sales rather than transfers. Remaining 2025 holdings stand at 4.77 million BTC, marking a 41.5% decline from last December's peak. This cohort represents the primary supply source, having passed the steepest reduction phase. Historical comparisons indicate previous bear market bottoms saw 51% and 62% drops in high-level holdings, suggesting the current 41% drawdown may approach a similar floor.