Short-term Bitcoin holders (STHs) are currently experiencing significant unrealized losses, with each 1% drop in price translating to an average of ~$30,000 in lost value. This level aligns with past market bottoms and suggests a high probability of STH capitulation as the price dips. Glassnode data indicates that these losses are historically significant, echoing events where Bitcoin’s price reached historical lows and experienced sharp corrections, often triggering panic selling and substantial market swings. Many recent Bitcoin buyers are now underwater due to this recent price decline, adding further pressure on the short-term holders. 🧐. Long-term Bitcoin holders (LTHs), those holding for over 155 days, have generally maintained profitability amidst this price decline, however, a potential for future losses exists. Newly acquired Bitcoin with high entry points is now at risk of significant losses if prices continue to fall. These newly turned LTHs are more susceptible to substantial losses compared to long-term holders who had already accumulated Bitcoin at lower price points and could potentially weather the storm. 📈