Bitcoin (BTC) investors who bought this year have mostly incurred losses. Market analysts diagnosed that short-term buyers are currently in an extreme loss zone.
On the 8th, market analyst Sina said on X (formerly Twitter), "Short-term holders are experiencing severe pain" and "Approximately 245,000 BTC were accumulated around $98,000 (about 143 million won), and these buyers are currently all experiencing losses".
Short-term holders typically refer to investors who purchased Bitcoin within the last 155 days. The Sina analyst added that "short-term holders are currently experiencing an average unrealized loss of 18%", which is similar to the level when Bitcoin dropped to $52,000 last year.
Another analyst, James Check, stated, "Almost 100% of the Bitcoin held by short-term holders is currently in a loss state, not a profit" and "This represents more than 25% of the total Bitcoin supply". He had been calling this range an 'air pocket' since December last year and noted that it has now reached its bottom.
Meanwhile, on-chain analysis firm Glassnode reported that Bitcoin whales are still continuing to accumulate as of the end of March. Conversely, some new investors are selling amid market fear. Currently, a strong support line is formed around $74,000, which is the first major selling point below $80,000, with about 50,000 BTC built up. It was also suggested that the potential for a decline could be limited, with about 175,000 BTC positioned in the $70,000-$74,000 range.
Bitcoin price rebounded somewhat after hitting a low on April 7th, reaching $80,800 during Asian trading on the 8th. The previous day saw a temporary price increase due to a fake news circulating that the "Trump administration would suspend tariffs for 90 days". However, after Trump warned of additional retaliatory tariffs on China and Chinese authorities responded by saying they would "fight to the end", the price dropped again below $77,500.
Crypto analyst Rekt Capital analyzed that the current Bitcoin correction is about 32% from the January high. This is similar to the 33% decline recorded during the post-halving adjustment in previous bull markets. This downward trend suggests that the Bitcoin market continues to face significant volatility.
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