Story perspectives

Bitcoin Falls Below $126K, Supply Loss Exceeds 50%

7/19/2026

Summary

Story summary

Bitcoin fell from above $126,000 in October 2025 to levels unseen since September 2024 and dropped below its 200-week moving average in July 2026.
K33 Research said Bitcoin supply in loss crossed 50 % on June 5 2026, and CryptoQuant measured it at 46 % on July 17 2026 with a Z-score of –2.35, 6 % of its range.
Bloomberg’s July 17 2026 analysis called the downturn an erosion of investor interest as U.S. lawmakers debated crypto legislation amid rising oil prices.

History

Historical Context

Bitcoin’s first major bust came in January 2018, when its price fell about 65 % in a month and Coinbase’s daily volume dropped 45 %. The SEC’s three 2018 enforcement actions underscored regulatory risk, a pattern that repeats as U.S. lawmakers debate new crypto legislation in July 2026 while Bloomberg data show supply-in-loss now above 50 %.

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Story summary

Bitcoin fell from above $126,000 in October 2025 to levels unseen since September 2024 and dropped below its 200-week moving average in July 2026.
K33 Research said Bitcoin supply in loss crossed 50 % on June 5 2026, and CryptoQuant measured it at 46 % on July 17 2026 with a Z-score of –2.35, 6 % of its range.
Bloomberg’s July 17 2026 analysis called the downturn an erosion of investor interest as U.S. lawmakers debated crypto legislation amid rising oil prices.

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