Bitcoin has been trading just above of $58,000 through the day, losing ground as the cryptocurrency market reacts to Strategy Inc.'s plans to stay solvent as bitcoin trades at multi-year lows. For long-term holders of bitcoin across the board, the situation is just getting tougher--with 45% of the supply of bitcoin in the hands of long-term holders now underwater, or worth less than it was when minted. That's roughly 7.47 million BTC that has slipped into negative profitability, which is the worst showing since 2019, according to Cex.io. The firm adds that its the first time in four months that the number of long-term holders actually decreased--signaling that they are beginning to break and sell instead of accumulating more cheap coins. (kirk.maltais@wsj.com)