Bitcoin holders are experiencing losses for the first time since October 2023, with 69,000 Bitcoins currently in the red, worth about $6.1 billion. The pattern mirrors the 2021–2022 bull-to-bear transition, raising concerns about a potential bear market similar to that of 2022. However, some experts remain optimistic due to factors like expected lower interest rates, institutional involvement, and slowed whale selling, suggesting a possible rally ahead.

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