Bitcoin’s Unrealized Losses at 24%: Market Stability Amidst Volatility

As of April 15, 2025, only 24% of Bitcoin is in unrealized loss, showing resilience in holder sentiment, as the market appears to have not capitulated. A notable buyer momentum was evidenced by a net positive taker volume following a decline, supporting Bitcoin’s price recovery above $85,000. Additionally, a sell wall of over 3,000 BTC around $86,000 posed possible resistance, while a recent breakout trendline suggests potential bullish momentum.

As of April 15, 2025, only 24% of Bitcoin’s circulating supply is experiencing unrealized losses, indicating notable holder resilience and a lack of capitulation in the market. Historically, levels below 25% suggest early-stage corrections, while instances above 50% signify severe sell-offs. Most Bitcoin holders appear to remain in profit, as many acquired their assets earlier than recent price fluctuations.

During recent weeks, Bitcoin’s unrealized losses have been comparatively low, suggesting a market phase of consolidation rather than distress. A copy of prior trends reveals that significant unrealized losses usually indicate major price bottoms, whereas lower figures are typical in stabilising market conditions. Therefore, the current 24% level supports the assertion that Bitcoin is not facing a severe downturn.

Between March 16 and April 10, Bitcoin experienced a negative net taker volume of over $600 million, signalling heightened seller activity and leading to a price decline below $79,000. However, on April 11, a reversal occurred, with cumulative net taker volume turning positive, surging to over $800 million by April 13. This uptick enabled Bitcoin to recover past $85,000 as buyers returned, reinforcing market optimism.

As of April 15, positive cumulative volume remained, sustaining Bitcoin’s position above $85,000. This momentum in support indicated a shift in market sentiment, with bullish participants becoming more active in derivatives trading, demonstrating increased risk appetite.

Data from CoinGlass identified a sell wall exceeding 3,000 BTC within the $85,700 to $86,000 range on Binance. Such sell walls can create resistance points, leading to potential price stagnation. As Bitcoin approached this range, a local high of $85,555 was noted before a minor pullback occurred, suggesting heightened sell activity at these levels.

Traders often leverage sell walls to identify potential price reversals or significant resistance areas. Should the buying pressure fail to overcome these sell orders, Bitcoin may witness consolidation or a downward adjustment. Conversely, sustained demand could catalyse a breakout beyond the sell wall.

Earlier this month, Bitcoin verified a technical breakout above a descending trendline, which had previously hindered upward price movement. This breakout now repositions the trendline as a support level, enhancing the probability of upward price continuation; however, broader macroeconomic factors may still exert influence over price direction.