Bitcoin's price briefly dipped below $90,000, causing around 12% of Bitcoin addresses to hold at a loss. This is the highest percentage of unrealized losses since October 2024, sparking concerns among investors. On-chain data shows a surge in the number of Bitcoin holders in the red, indicating increased market uncertainty. The dip in price has reversed the trend of green profitability seen during the late 2024 rally. Historical patterns suggest that spikes in unrealized losses often coincide with heightened selling pressure. If Bitcoin fails to reclaim the $90,000 level soon, further selling pressure could be expected. However, a strong bounce-back could restore investor confidence. Market participants are monitoring on-chain metrics and historical patterns to determine Bitcoin's next move. The price drop reflects growing uncertainty in the macroeconomic environment and investor sentiment.



Other News from Today