Bitcoin continues its sharp decline, and the bitcoin price has already broken through the psychological threshold of $70,000. Nervousness in the cryptocurrency market is growing, and according to data from the CryptoQuant analytics platform, short-term holders sent more than 47,000 BTC held at an unrealized loss to exchanges in a single day. The market is thus coming under mounting selling pressure, as the cryptocurrency is trading far below the average purchase price of newer investors, around $75,700, and analysts warn that the bear market could continue.
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Bitcoin price weakens as short-term holders increase selling pressure
Data from the CryptoQuant analytics platform show that short-term holders, meaning investors who have held bitcoin for no more than 155 days, sent a total of 47,025 BTC at an unrealized loss to cryptocurrency exchanges in the 24 hours to midnight UTC between November 10 and 11, while only about 1,700 BTC were transferred at a profit. The resulting ratio of 27 loss-making bitcoins for every profitable one marks one of the largest single-day volumes since July and suggests that some newer market participants are losing patience. The sharp rise in transfers came as the price fell to $72,670, after which the cryptocurrency weakened to as low as $68,900 and the short-term Sharpe ratio moved close to negative values.
While the average acquisition price of long-term holders remains safely around $48,000, for short-term investors it is $75,700, which means that at a price below $70,000 they are down more than 7.5 percent. This shift is also reflected in the NUPL indicator, which tracks unrealized profits and losses, according to which newer investors were in their best position this September at a price of around $87,200, but have since slipped into an overall loss. According to CryptoQuant head of research Julio Moreno, the current development may not be merely a short-term correction, but a continuation of a broader decline that began as early as November 2025.
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Bitcoin price below $70,000: Will the bear market continue after the break of support?
The key level for further developments will be the $73,000 price threshold; according to analysts, its breach, followed by a failed attempt to reclaim it, would confirm that the bear market is far from over. If buyers try to push the price back above $73,000 and fail, the former support zone could become strong new resistance, opening room for another decline. Similar pressure could also come from investors who would use any price recovery toward $75,700 to close their loss-making positions, thereby holding back further growth.
Although the transfer of 47,025 BTC to trading platforms does not automatically mean an immediate sale of all the coins, combined with growing losses and the clear predominance of loss-making transfers it is a warning signal of capitulation by some newer investors. Over the past month, the market lost almost fourteen percent and approached a local low of around $71,646 before falling below the psychological $70,000 level. The coming days will therefore show whether buyers manage to absorb the current supply and return the price above $73,000, or whether the downtrend will continue.
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Sources:
- CryptoQuant – on-chain data, realized price of short-term holders, and the NUPL indicator
- KryptoMagazín Terminal – live charts, bitcoin price developments, and market metrics
- KryptoMagazín.cz – news and analysis of the cryptocurrency market
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