Fewer Bitcoin holders are now sitting on unrealized losses, with the share of BTC UTXOs in loss falling from nearly 60% to around 27%, according to CryptoQuant contributor Crypto Dan.
That matters because widespread underwater holders are often associated with heavier selling pressure and weaker market conditions. As more holders move back into profit, that pressure can gradually ease.
CryptoQuant says the improvement makes a return to a full bear market phase increasingly unlikely, although it does not eliminate the risk of another correction.
Bitcoin still has to deal with resistance around $79.8K, while roughly $71.3K is being watched as an important cost-basis support level.
Fewer holders are underwater. Now BTC needs to hold the structure.
#BTC Price Analysis# #Macro Insights# $BTC
That matters because widespread underwater holders are often associated with heavier selling pressure and weaker market conditions. As more holders move back into profit, that pressure can gradually ease.
CryptoQuant says the improvement makes a return to a full bear market phase increasingly unlikely, although it does not eliminate the risk of another correction.
Bitcoin still has to deal with resistance around $79.8K, while roughly $71.3K is being watched as an important cost-basis support level.
Fewer holders are underwater. Now BTC needs to hold the structure.
#BTC Price Analysis# #Macro Insights# $BTC
