📉 Bitcoin Bulls Under Pressure
Bitcoin has faced its deepest correction since late 2022, trading below the 200DMA ( 200-day moving average ) and resulting in significant unrealized losses for Short-Term Holders. Over 2.8M BTC are now underwater.
Despite the price drop, the overall market structure remains relatively robust compared to previous cycles. The drawdown has affected profitability, with realized losses hitting $595M this week. However, Long-Term Holders continue to maintain profitability.
