The Bitcoin market is currently experiencing a significant drawdown, with unrealized losses reaching 19% of its market cap at a price of $67,000. This situation reflects patterns seen in May 2022, a time characterized by intense selling pressure before major capitulation phases. According to Glassnode data, these unrealized losses, driven by short-term holders, indicate elevated stress among investors, mirroring historical patterns related to market corrections.
Bitcoin market cap faces 19% unrealized losses at $67K: Glassnode
