Over 25% of Bitcoin Supply Underwater as Price Falls Below $95,800 Threshold

Bitcoin has dropped below the 0.75 quantile level since mid-November, leaving more than 25% of its circulating supply in unrealized losses, Glassnode data show. The market now faces a delicate balance between potential capitulation from high-price buyers and the possibility of seller exhaustion forming a temporary bottom. At the current level near $93,000, Bitcoin remains highly sensitive to macroeconomic shocks until it reclaims the 0.75 quantile around $95,800 and the 0.85 quantile at approximately $106,200.