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Bitcoin 
$94,732 prices have recently experienced a noticeable correction, yet on-chain data indicates that market risk remains at high levels. Despite the price drop, the majority of investors have not realized significant losses, suggesting that the market has not yet entered a phase of “true capitulation.” Experts believe that this scenario may signal either a protracted consolidation or the onset of a new wave of volatility rather than a recovery.
Unrealized Losses Remain Low
According to data from the on-chain analysis platform CryptoQuant, only 24% of the circulating Bitcoin supply is currently in the unrealized loss zone. Historically, this level corresponds to an early stage of corrections, indicating that the vast majority of investors have not yet realized their losses. This lack of widespread sell-off reflects the absence of panic among holders.
The majority of unrealized losses are held by long-term investors, indicating that market pressure is primarily stemming from strong hands rather than short-term traders. Historically, such consolidation periods often lead to either prolonged horizontal movements or ambiguous price fluctuations. Therefore, the current low loss ratio suggests that investors need to exhibit greater patience.
Clear Signals Needed for New Bitcoin Purchases
Market expert Crazzyblock has warned that the current supply structure and low loss ratios create a high-risk environment. The expert emphasized that hasty decisions in this period could yield ineffective results for short-term trading strategies. It is suggested that rather than rushing to take positions, waiting for a clearer market direction will be more prudent.
At this juncture, the most rational move for investors may be to await clearer signals from market structure and investor behavior. Experts assert that monitoring price movements and volume dynamics for a while longer is crucial to avoid significant losses when acquiring new positions. Patient investors are expected to secure more advantageous entry points in the coming period.
