Over 1/3 of Bitcoin Holdings Now Underwater as Market Slumps

Over 28% of Bitcoin’s circulating supply is currently held in the red, signaling potential recovery. This significant portion reflects over one-third of all Bitcoin holders being underwater following recent market downturns. Experts attribute this trend to declining ETF holdings and heightened selling pressure, particularly from newer investors seeking a quick break-even point. While this level has historically coincided with market lows, it also raises concerns about the future direction of the market.