Short-term Bitcoin holders $BTC

BTCUSDT

Perp

66,250.2

-1.48%

are experiencing severe pain now, as they sit on unrealized losses of about 28% with an average cost close to $94,200 while Bitcoin hovers around $68,000.

This represents the longest stretch of four months of pressure on short-term Bitcoin holders $BTC in this cycle so far—an unusual situation in a bull market and starting to echo a bear market. Patience is key; the depth of the situation heavily depends on future economic/geopolitical recovery.