Data: Over 25% of Bitcoin supply is at a loss, and Bitcoin remains highly sensitive to macro shocks

glassnode stated that since mid-November, Bitcoin has fallen below the 0.75 percentile, which means that over 25% of the supply is in an unrealized loss state. This puts the market in a fragile balance: on one hand, there is the risk of stop-loss/surrender from high-position buyers, and on the other hand, the possibility of seller exhaustion and the formation of a temporary bottom.

Around $93,000, the price of Bitcoin will remain highly sensitive to macro shocks before it can reclaim the 0.75 percentile (approximately $95,800) and further recover the 0.85 percentile (approximately $106,200).