Bitcoin Dips to $73,000, Reversing Gains Since Trump's Election

Bitcoin faces a significant downturn, hitting $73,000, as 44% of its supply remains underwater after a 30% decline this past month.

A recent analysis by Glassnode revealed a concerning trend in the Bitcoin market, where nearly 44% of the total Bitcoin supply is currently classified as 'underwater.' This term refers to the situation where holders have seen their investments decline in value. The cryptocurrency has experienced a substantial drop of about 30% over the previous month, leading to this alarming statistic.

As Bitcoin struggles to maintain its position, it has recently tested the $73,000 mark. This decline has effectively erased the gains that the digital currency amassed since the night of Trump's election victory, highlighting the volatility and unpredictability of the crypto market. Investors are keenly watching how these trends will evolve in the coming days.