Half of all $BTC is now underwater.
For the first time this cycle, more BTC holders are sitting on unrealized losses than profits:
๐ ~10.5M $BTC underwater
๐ ~9.8M BTC still in profit
That sounds scaryโฆ until you realize this metric usually gets interesting when sentiment is already exhausted.
BTC is also testing the 200-week moving average (~$61.3K), a level people love because history keeps dragging price back to it during ugly periods.
Bullsโ argument ๐ข
โ Long-term holders are absorbing supply
โ Seller exhaustion = bottom forming
โ Previous pain zones became opportunity zones
Bearsโ argument ๐ด
โ Macro still uncertain
โ Models still point lower
โ $50Kโ55K gets mentioned as a possible floor
The part nobody likes hearing:
Past cycles never rang a bell at the bottom.
So what do you think, is this accumulation or are we early to the pain?
๐ Pick a side.
#BTC Price Analysis#
For the first time this cycle, more BTC holders are sitting on unrealized losses than profits:
๐ ~10.5M $BTC underwater
๐ ~9.8M BTC still in profit
That sounds scaryโฆ until you realize this metric usually gets interesting when sentiment is already exhausted.
BTC is also testing the 200-week moving average (~$61.3K), a level people love because history keeps dragging price back to it during ugly periods.
Bullsโ argument ๐ข
โ Long-term holders are absorbing supply
โ Seller exhaustion = bottom forming
โ Previous pain zones became opportunity zones
Bearsโ argument ๐ด
โ Macro still uncertain
โ Models still point lower
โ $50Kโ55K gets mentioned as a possible floor
The part nobody likes hearing:
Past cycles never rang a bell at the bottom.
So what do you think, is this accumulation or are we early to the pain?
๐ Pick a side.
#BTC Price Analysis#