Bitcoin traded at $66,450 on Thursday, marking a 47% decline from its $126,000 all-time high reached in October 2025. The drop has pushed a large share of holders into unrealized losses, highlighting the pressure still present across the market. Roughly 8.8 million BTC are now held below cost basis, representing about 44% of circulating supply. In dollar terms, this equates to nearly $600 billion in unrealized losses, according to Glassnode data. The scale of losses places current market conditions close to prior bear market phases. Bitcoin is also trading 24% below its yearly open of $87,500, reinforcing the ... (full story)