Market pressure is clearly building as #Bitcoin continues to trade well below its recent peak. With price sitting nearly 30 percent under the all time high, short term holders are increasingly feeling the strain. On chain indicators reflect this stress. The Short Term Holder SOPR has moved below 1, signaling that many recent participants are selling at a loss. This typically points to fear driven exits and weakening short term sentiment.

Loss realization is also visible in the Profit and Loss Block data, which shows a rise in realized losses across the network. Most of this selling activity is coming from short term holders, while long term holders remain comparatively stable. Such conditions often mark a local stress phase in the market. While the broader trend remains uncertain, these periods have historically preceded consolidation or a potential base forming once forced selling subsides.