Bitcoin Supply In Profit Drops During Price Correction – 4.4 Million Bitcoin Now Held At A Loss

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So, Bitcoin has decided to take a nosedive below the $80K mark, and let me tell you, it’s not just a dip; it’s more like a belly flop into a kiddie pool filled with ice water. Investors are clutching their pearls, and the market is buzzing with fear like a swarm of angry bees. In just a week, Bitcoin has lost over 18% of its value, which is like watching your favorite ice cream melt on a hot summer day—devastating.

According to the wise folks at CryptoQuant, a jaw-dropping 4.4 million BTC are now swimming in the sea of loss. That’s right, these coins were bought at the high-flying $95K level and are now worth less than a soggy dollar bill. Historically, this kind of panic can lead to either a dramatic sell-off or a miraculous bounce-back, depending on whether the market decides to have a meltdown or a moment of clarity.

As Bitcoin flirts with fresh lows, everyone is holding their breath, waiting to see if the bulls can muster the strength to reclaim some dignity or if we’re in for a further plunge. With sentiment at an all-time low, the next few trading sessions could be the difference between a glorious comeback or a prolonged pity party.

Bitcoin Faces Sharp Correction

In a plot twist nobody saw coming, Bitcoin has plummeted to its lowest level since early November 2024. This unexpected drop has sent shockwaves through the bullish dreams of many investors, leaving them wondering if they should start knitting “I survived the Bitcoin crash” sweaters. The market is now drenched in fear, with investors anxiously biting their nails and contemplating whether we’re heading into a bear market or just a really bad hair day.

With the market in extreme fear, the thought of further selling pressure is enough to make anyone’s stomach churn. Traders are glued to their screens, praying for a miracle that will stabilize Bitcoin or at least prevent a deeper correction. Historically, major sell-offs have either led to a dramatic bounce or a long, drawn-out period of consolidation—so, you know, no pressure.

Top analyst Axel Adler took to X to share the grim news: 4.4 million BTC are now officially in the loss column. This number represents the unfortunate souls who bought in around the $95K mark, now left holding the bag. Meanwhile, the supply in profit has plummeted from 19.7 million BTC to a mere 15.3 million BTC, which is like watching your favorite restaurant go out of business—just heartbreaking.

With Bitcoin now trading below key support levels, the market is at a crossroads: is this the beginning of a bearish phase, or just a minor hiccup before the next big leap? If BTC can’t hold its ground, we might be in for a wild ride downwards. But if the bulls can rally, it could be a golden opportunity for long-term investors to swoop in like superheroes.

Bitcoin Struggles at $80K Amid Bear Market Fears

Currently, Bitcoin is hanging on by a thread at $80,190 after days of relentless selling pressure. The fear of a new bear market is palpable, and investors are sweating bullets as they watch their dreams of massive returns in 2025 slip away faster than a greased pig at a county fair.

The bulls are now facing a Herculean task: defend the $80K mark and push BTC back above $85,500 before the market decides to throw a tantrum. This level is crucial because it aligns with both the 200-day moving average and the 200-day exponential moving average—two fancy terms that basically mean, “If we don’t get our act together, we’re in big trouble.”

If BTC can’t muster a positive reaction at these levels, the next support zone is lurking around $75K, and losing that could trigger a panic selling spree that would make Black Friday look like a quaint little yard sale. On the flip side, if we can bounce back above $85,500, we might just restore some confidence and set the stage for a potential leap toward $90K. The next few trading sessions are going to be like watching a suspenseful thriller—grab your popcorn!

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2025-02-28 16:13