Approximately 580,000 Bitcoin accumulated between the $72,900 and $76,600 range has now moved underwater following the latest market correction, according to Glassnode data.
The shift places a significant portion of short-term holders at unrealized losses, potentially increasing near-term sell pressure as traders reassess risk exposure and attempt to protect capital.
Historically, large clusters of underwater supply can create heightened market volatility, particularly if Bitcoin struggles to reclaim key resistance levels in the coming sessions.
Analysts are closely monitoring whether long-term holders continue accumulating during the pullback or if broader market sentiment weakens further amid macroeconomic uncertainty.