Data: Over 25% of Bitcoin supply is at an unrealized loss, and Bitcoin remains highly sensitive to macroeconomic shocks.

ChainCatcher news, glassnode stated in an article that since mid-November, bitcoin has fallen below the 0.75 quantile line, which means that more than 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/capitulation by high-entry buyers, and on the other hand, the possibility of seller exhaustion forming a temporary bottom.

Around $93,000, before bitcoin's price reclaims the 0.75 quantile line (about $95,800) and further recovers the 0.85 quantile line (about $106,200), it will remain highly sensitive to macro shocks.