Short-Term Holders Remain in Deep Loss Zones
Bitcoin moves through renewed downside pressure as selling activity expands and short-term holders continue facing deep losses during the latest phase of the correction.
Bitcoin short-term holders remain in a pain zone, according to a chart shared by CryptoQuant. The data shows deep loss pockets forming through multiple phases of 2025, a structure described as typical near the later stages of corrections. The profit and loss bands show repeated negative readings, with recent margins near minus 10 percent as spot stays below the realized price.
The chart shows Bitcoin beginning 2025 near $110,000 before falling into a multi-month decline. Deep red regions mark capitulation phases among newer buyers during early and late-year downturns. For most of the year, the short-term holder realized price stayed above spot, keeping the group underwater. A brief mid-year recovery lifted the spot above the realized price, though renewed weakness returned in the second half.
Price Action Shows Short-Term Weakness Near $90K
Bitcoin trades near $90,335 after a 1.82% decline during the past day. The move follows an early spike above $93,000 that lost momentum near the $94,000 area. Selling then expanded, sending the price below $91,000 and toward $90,000 as traders reduced exposure during the session. Activity eased once Bitcoin reached the lower boundary, forming steady movement between $90,000 and $90,500.
Short-term selling pressure aligns with the broader retracement as volume reached $65.71 billion, down 3.06%. The circulating supply sits at 19.96 million, with a fully diluted value near $1.89 trillion. These figures maintain the long-term scarcity profile while near-term sentiment remains cautious. The intraday structure shows a distribution pattern that led to a breakdown, followed by a stable but soft trading range.
Futures Positioning Shows Cautious but Long-Biased Behavior
Futures positioning shows strong long exposure across major exchanges during the downturn. Binance reports an account-based long ratio near 2.03, while OKX shows 1.93. Top-trader positioning on Binance sits near 2.39. This structure forms as price trades near session lows, showing traders maintain directional exposure despite the decline.
Open interest fell during the move, with Binance down 1.54% and OKX down 2.65%. Liquidations remain moderate, with one-hour totals near $152,000 and balanced long and short flows. The four-hour window shows larger activity, though still below stress extremes. Exchange prices remain close to $90,200–$90,290, supporting the view of a market moving through a corrective but orderly phase.