Bitcoin supply decreased to profit to 76 % – more than 4.5 million BTC now in an unrealized loss
Bitcoin continues to face massive sale pressure, as its price has decreased to less than 84,000 dollars, which represents a 15 % decrease since the beginning of March. This recession nourishes fear of panic and increasing fear, as many investors are now speculating whether Bitcoin is entering into the bear market. The latter decline has left the market in a state of uncertainty as BTC struggles to restore the main levels that can restore the bullish momentum.
According to the data on the chain of Cryptoquant, the percentage of bitcoin supply in profit has decreased from 99 % to 76 %, which means that 23 % of the total BTC supply is now in an unreasonable loss. Historically, such significant declines in the profitability of the offer increased fluctuations with the surrender of the weakest hands while long -term holders of market conditions reside.
With Bitcoin at a critical turn, traders closely monitor whether BTC can restore the main resistance levels or if the additional negative pressure will lead to low prices. The coming days will determine whether Bitcoin has been appointed to recover or deeper losses in the future.
Bitcoin faces an important test
Bitcoin is struggling to restore higher prices, with poor prices and extreme fear in controlling morale. Many analysts are now calling for the end of this bull cycle, as BTC lost $ 90,000 a few weeks ago, and they failed to restore its previous momentum. Currently, Bitcoin holds less than 85,000 dollars, barely maintaining more than $ 80,000, as the declining pressure keeps investors on the edge of the abyss. The market remains in a weak position, as many expect an additional decrease in low demand levels.
However, there is still hope for recovery, as BTC can restore the main levels and purchase attention. Senior analysts Axel Adler visions on xAnd revealed that the percentage of bitcoin supply in profit has decreased from 99 % to 76 %, which means that 23 % of the total BTC supply is currently in an unrealistic loss. This equals about 4,561,966 BTC out of 19,834,633 BTC in trading, which represents a major transformation in the market profitability.
Adler also noted that such a decrease can lead to panic among investors who lack experience, which may lead to increased pressure pressure. However, he pointed out that there is a similar trend that occurred during the previous unification phase, when the profit show rate decreased to 70 %, confirming the total market courses that often precede strong recovers.
Currently, Bitcoin remains in an accurate position, while setting the next few trading sessions to determine whether BTC can restore higher resistance levels or whether investors closely monitor whether this course reflects previous monotheism or if deep losses in the future.
BTC price procedures: technical details
Bitcoin (BTC) is currently trading at 82,400 dollars, struggling to get a momentum after multiple failed attempts to fracture over the 200 -day moving average (MA) at $ 83,300. This level was a strong resistance, which prevented BTC from creating a clear recovery trend.
In order for the bulls to regain control, BTC must restore MA for 200 days and pay above the SIA moving average for 200 days (EMA) at $ 85,700. A lounge and contract higher than these levels will refer to a shift in feelings, creating a healthier preparation for a possible mobilization. Without this batch, Bitcoin remains besieged in a declining stage, which increases the risk of more declines.
If BTC fails to restore these main technical levels, the pressure pressure may increase, leading to a decrease in demand areas less than $ 78,000. This would confirm the continuation of the current declining trend, forcing Bitcoin to the deeper correction region. With BTC at a critical turning point, traders closely monitor whether the bulls can intervene or if the bears will lead to low prices.
Distinctive image from Dall-E, the tradingView graph
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