Bitcoin Cracks Below $90,000: Market Tremors and Trader Losses Mount
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- Bitcoin dropped below the $90,000 price level for the first time in a month.
- Data shows that 12% of BTC addresses are currently suffering from losses.
- A massive $1.34 billion was wiped off from the crypto space as BTC lost $90K.
Bitcoin (BTC) has fallen below the crucial $90,000 mark for the first time in a month. This triggered a wave of liquidations and ramped up market volatility.
The sudden downturn has left many traders in the red. Data from IntoTheBlock shows that about 12% of all Bitcoin addresses are currently underwater—the highest percentage of unrealized losses since October 2024.
Looking back at IntoTheBlock’s historical “In/Out of the Money” data, it’s clear many investors bought BTC at higher prices, especially between $90,000 and $100,000.
With the price now at $89,479, these addresses are “out of the money.” Historically, similar situations have come before increased sell-offs as traders try to limit their losses, pushing Bitcoin’s price even lower.
With Bitcoin briefly dropping below $90k, roughly 12% of all Bitcoin addresses are holding at a loss.
This is the highest unrealized loss percentage since October 2024 p…
The post Bitcoin Cracks Below $90,000: Market Tremors and Trader Losses Mount appeared first on Coin Edition.
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