Temporary Bitcoin Investors Suffer as Bearish Market Intensifies

Short-term Bitcoin holders are facing a 28% unrealized loss as the cryptocurrency's price continues to fall, according to CryptoQuant analyst, ‘Darkfost’. Bitcoin has been trading below the short-term holder cost basis of around $94,200 for four months, signifying a prolonged period of stress. The current situation, which is unusual for this cycle, suggests an emerging bear market. The lack of fresh capital is aggravating the bearish conditions, with new investor inflows turning negative. Meanwhile, Bitfinex analysts observe an upswing in Bitcoin long-term holder supply after months of distribution, indicating a potential mid-cycle reset. As Bitcoin's price fell to $66,000, Ether also plummeted to under the $2,000 mark, hinting at a decrease in the cryptocurrency market's overall value.