Bitcoin: Long-Term Holders Carry 5.6M BTC at Loss

Bitcoin long-term holders now carry 5.6M BTC at a loss after price slid below $60k, the highest level since the 2020 Covid crash, showing the overhang supply resolution is extending rather than concluding.

On the 4h chart BTC trades at $59423.23 inside a bearish structure where EMA50 at $62878.14 and EMA200 at $67559.57 cap any rebound while MACD death cross at -966.63 reinforces downside pressure; neutral RSI at 31.63 combined with price inside the Bollinger band points to a likely probe of lower support at $58962.76 before relief can develop amid broader crypto market crash dynamics and shifting BTC price prediction models.