Bitcoin's Recent Rally Leaves Many Buyers in the Red

Bitcoin's price has increased by 33.4% over the past 90 days, reaching $84,621. However, this growth does not account for the price fluctuations of the past year, and the cryptocurrency is still 29.7% below its price from a year ago.

Many buyers who purchased Bitcoin during this period are still facing losses, as the recent rally has not yet reached the break-even point for all holders. To break even, buyers who entered the market at prices above $84,621 need a 49% increase in the price of Bitcoin.

Strategy Inc., a software company that holds Bitcoin, reports an average purchase price of $75,419, resulting in a 12% gain. In contrast, Strive, an asset manager, purchased its latest batch of Bitcoin at an average price of $85,396, which is only 0.9% above the current price.

The timing of purchases matters, as Strategy's average includes older, lower-cost purchases, while Strive's recent acquisition reflects higher prices. The breakdown of the increase needed to break even for buyers at different entry points is as follows: $126,080 (all-time high) needs a 49% increase, $120,400 (a year ago) needs a 42% increase, $88,750 (start of 2026) needs a 4.9% increase, and $85,396 (Strive's latest purchase) needs a 0.9% increase.