Bitcoin is trading below $62,000, roughly 50% below its October 2025 all-time high, as investors unwind the 'debasement trade' and a hawkish Federal Reserve strengthens the U.S. dollar. Over a quarter of circulating Bitcoin supply is now sitting on unrealized losses.
Bitcoin is 50% below its all-time high with heavy ETF outflows, over a quarter of supply at a loss, and a hawkish Fed environment. This is clearly negative for the crypto industry's flagship asset and market sentiment broadly.
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