According to @glassnode, at a BTC price of $96,000, nearly 99% of investors who accumulated Bitcoin within the past 155 days are currently holding unrealized losses. Source: https://twitter.com/glassnode/status/1989347450499551692 and https://glassno.de/47GyFfn This shows the recent-buyer cohort is overwhelmingly underwater at current levels, a condition traders track via Glassnode’s on-chain metrics to assess potential overhead supply from recent entrants. Source: https://glassno.de/47GyFfn