Bitcoin Selloff Pushes Over 50% of Supply into Unrealized Loss

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Supply Loss Intensifies: According to K33 Research, the latest Bitcoin selloff has pushed over 50% of its circulating supply into unrealized losses, indicating extreme market fear that could undermine investor confidence.
Price Volatility Analysis: Bitcoin briefly fell below $60,000, causing it to drop under its 200-week moving average, with K33 viewing this price range as a potential cycle low, although historical data suggests further declines may be possible.
Historical Trend Review: K33 noted that in past major Bitcoin bear markets, the supply trading at a loss exceeded 50% within 31 days of the first reading, although the 2014 cycle was an exception, highlighting the complexity of market bottom signals.
Market Liquidity Changes: Global Bitcoin ETPs recorded 22,840 BTC in weekly outflows, with average daily outflows reaching 4,108 BTC, nearly ten times Bitcoin's daily issuance, indicating a weakening demand for Bitcoin in the market.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	42318.699	50724.804	57279.789	65685.894	72240.879	80646.984	87201.969
Fibonacci	50724.804	56439.941	59970.758	65685.894	71401.031	74931.848	80646.984

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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