Bitcoin holders face $600B in unrealized losses as BTC price slips to $66K

💡 DMK Insight

With 44% of Bitcoin’s circulating supply underwater at $66,000, market sentiment is shaky right now. Weak spot demand is a red flag for traders, suggesting that many holders are hesitant to sell, which could lead to increased volatility. If Bitcoin can’t reclaim key support levels, we might see further downside pressure. Watch for a potential break below $60,000, which could trigger stop-loss orders and exacerbate selling. On the flip side, if Bitcoin manages to push back above $66,000, it could attract buyers looking for a rebound, but that seems unlikely given the current sentiment. Traders should keep an eye on the daily trading volume and any shifts in whale activity, as these could signal whether the market is gearing up for a recovery or a deeper correction. The real story is how long this underwater supply can hold without triggering panic selling.