Bitcoin Loss Addresses Exceed 12% as Price Drops Below $87,000

On-chain data reveals a significant rise in Bitcoin loss addresses following a price drop. Key points include:

Bitcoin's price fell more than 7% within the last 24 hours, briefly dipping below $87,000 before rebounding to around $89,000.
The broader digital asset market experienced similar declines, with many altcoins performing worse than Bitcoin.
Total liquidations in the derivatives market reached $1.5 billion due to this downturn.
Over 12% of Bitcoin addresses are now classified as 'out of the money,' indicating holders are at a loss, the highest percentage since October 2022.

As the market adjusts, profit-loss distributions for Bitcoin holders have shifted significantly.