UTXO Realized Price Distribution (URPD)<\/a> showcases which levels exactly the underwater hands bought their Bitcoin at.<\/p>\n![\"Bitcoin](\"https:\/\/pbs.twimg.com\/media\/HBOj0FkbAAA6-Kt?format=png&name=large\")
<\/p>\n
As displayed in the indicator\u2019s chart, the Bitcoin loss supply is particularly clustered between the $80,000 to $95,000 and $105,000 to $120,000 ranges. Given the distance that the current BTC price has to these levels, it\u2019s possible that traders who bought inside the ranges will stay underwater in the near future.<\/p>\n
Upward moves for the asset would naturally be met with selling pressure from these investors looking to cut their losses. \u201cThat overhead supply must be absorbed and redistributed to stronger hands before a durable bottom can emerge,\u201d explained Maartunn.<\/p>\n
During the previous bear market, the Bitcoin Supply In Loss dropped to even lower levels than now and the market observed a long phase of consolidation before this transfer of loss supply to more resolute hands could occur. It now remains to be seen how long the cryptocurrency will take to reach a floor this time around.<\/p>\n
BTC Price<\/h2>\n
Bitcoin has taken to sideways movement since its recovery from the $60,000 low as its price is still trading around $68,600.<\/p>\n
![\"Bitcoin](\"https:\/\/www.tradingview.com\/x\/vtETgdNn\/\")
<\/p>","protected":false},"excerpt":{"rendered":"
On-chain data shows almost half of all Bitcoin is currently underwater, representing overhead supply that might need to be absorbed before a price bottom. Around 9.31 Million Bitcoin Is Now Being Held At A Loss In a new post on X, CryptoQuant community analyst Maartunn has talked about why a true Bitcoin bottom takes time […]<\/p>\n","protected":false},"author":1,"featured_media":36033,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[45],"tags":[],"class_list":{"0":"post-36032","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"yoast_head":"\n
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