Below-cost Bitcoin transfers dominate exchange inflows
CryptoSlate says nearly all older Bitcoin entering exchanges on November 10 was deposited below its acquisition cost.
CryptoSlate says nearly all older Bitcoin entering exchanges on November 10 was deposited below its acquisition cost. Bitcoin (BTC) is trading at $73,994.00. This is an original TLT brief based on reporting by CryptoSlate, with live market data added, as of Wed, 11 Nov 2026 11:45:03 UTC.
A 96% below-cost share suggests exchange deposits were heavily concentrated among Bitcoin holdings purchased at higher prices, potentially increasing the amount of unrealized losses entering the market. The flow composition matters alongside price and sentiment data.
- Below-cost deposits represented about 96% of the tracked exchange inflows
- Daily below-cost deposits fell 29.22%
- Bitcoin trades at $73,981, down 5.57% over seven days
- Crypto Fear and Greed stands at 29, indicating fear
CryptoSlate reported that on November 10, 
Bitcoin deposits made below acquisition cost accounted for approximately 96% of the tracked cohort’s exchange inflows. The finding indicates that most of the older Bitcoin entering exchanges during the period was being moved while trading below the price at which it had been acquired.
The below-cost deposit total declined by 29.22% from the preceding day, according to CryptoSlate. Despite that daily reduction, below-cost transfers still made up the overwhelming majority of exchange inflows, making loss position the defining feature of the reported cohort rather than deposit volume alone.
Live market data show Bitcoin at $73,981, down 0.23% over 24 hours and 5.57% over seven days. Its market capitalization stands at $1.49 trillion. The wider crypto market is comparatively stable, with total capitalization at $2.53 trillion and the overall market described as flat.
Market sentiment remains weak relative to the broader market backdrop: the Crypto Fear and Greed index is at 29, placing it in the Fear range. That reading accompanies Bitcoin’s weekly decline, while the concentration of below-cost exchange deposits highlights unrealized losses among holders who acquired Bitcoin at higher prices.
The development matters because it shows that exchange flows were composed mainly of older, underwater holdings rather than a broad mix of cost bases. The next relevant data points are whether the below-cost share remains near 96% and whether the daily number of such deposits rebounds from the November 10 decline; neither signals a future price direction by itself.
Since this brief published about 1 hour ago, Bitcoin (BTC) has moved from $73,981.00 to $73,994.00 — +0.02%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin dip to $65,000 by December 31, 2026?
Crowd-implied probability on Polymarket, $102.42K 24h volume, resolves Jan 1 — snapshotted when this brief published (Nov 11 11:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by TLT and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₦103.18M (about $73,994.00), down 0.4% over 24 hours. The naira itself trades about 3.3% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Below-cost Bitcoin transfers dominate exchange inflows — questions & answers
What share of Bitcoin exchange inflows was below cost?
CryptoSlate reported that approximately 96% of the tracked cohort’s exchange inflows on November 10 consisted of Bitcoin deposited below acquisition cost.
Did below-cost Bitcoin deposits increase or decrease?
They decreased by 29.22% from the prior day, but still accounted for about 96% of the cohort’s exchange inflows.
How were Bitcoin and market sentiment performing?
Bitcoin was priced at $73,981, down 0.23% over 24 hours and 5.57% over seven days. The Crypto Fear and Greed index stood at 29, in the Fear range.
How much is 1 Bitcoin worth in naira today?
About ₦103.18M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $73,994.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CryptoSlate. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.