[Analysis] "Bitcoin’s full capitulation is still ahead… unrealized loss ratio at 39%"
Summary
- A CryptoQuant contributor said Bitcoin’s Percent Unrealized Loss has exceeded 39%, indicating many buyers have moved into loss territory.
- He added that it is not yet a full capitulation phase, but the market is entering a period of downside pressure with short-term positions being gradually unwound.
- As of 6 p.m. on the day, Bitcoin was trading at $63,482, down 6.58% from the previous day.
Forecast Trend Report by Period
A significant share of Bitcoin (BTC) investors are sitting on paper losses, data showed.
On the 28th (Korea time), CryptoQuant contributor Axel Adler Jr. said on X (formerly Twitter) that Bitcoin’s on-chain “Percent Unrealized Loss” has now topped 39%, adding that this indicates many buyers have moved into loss territory.
Percent Unrealized Loss is an indicator that shows the share of holdings for which the current price is below the purchase price.
The contributor also projected that Bitcoin could see further downside. “This is not a full capitulation phase yet,” he said, adding that “the market is entering a period of downside pressure, with short-term positions being gradually unwound.”
As of 6 p.m. on the day, Bitcoin was trading at $63,482, down 6.58% from the previous day, according to CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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