Bitcoin reached $126,223 in October 2025 before falling below $59,000 on July 1, representing a roughly 53% decline from its peak and the worst start to a year in over a decade with a 33% loss by June. Bitcoin ETF outflows reached $4.21 billion over three weeks in June, while the average ETF holder’s cost basis stood around $83,000 and BlackRock’s IBIT fund still held $47.48 billion in net assets as of August 4. Strategy sold 1,638 BTC for $104.73 million to fund preferred dividends, with long-term holders recording approximately $280 million in daily losses on a 30-day average. This setup differs from 2022, when platforms like Terra, Celsius and FTX collapsed, because compressed volatility and ETF redemptions now allow gradual loss distribution without systemic bankruptcy.
Source: Read the original article
