Bitcoin Traders 5% Underwater, Rebound Possible at -12% Threshold

Recent analysis indicates that Bitcoin traders are currently experiencing a loss margin of about 5%, which is halfway to the -12% boundary associated with rebounds over the past two years.

Key Insights

The Profit/Loss Margin measures the net unrealized profit or loss for Bitcoin investors, focusing on traders holding coins for 1 to 3 months.
Bitcoin's price decline has led to a negative Profit/Loss Margin, indicating traders are under pressure.
Historically, a rebound in Bitcoin price has occurred when this margin reached -12%.
A potential bottom for Bitcoin might be found if the margin drops further into distress territory.
Analyst Ali Martinez suggests $119,750 as a key resistance level; failure to reclaim it could see prices fall to $97,130 or even $74,500.

Current BTC Price

Bitcoin's recent recovery was short-lived, with the value dropping back to $108,000.