Bitcoin price is currently bleeding, and while the situation appears neutral, many angles point toward a bearish outlook. Bitcoin (BTC) is trading above $66,000 on Thursday, down nearly 6% in a week, while on-chain data confirms a staggering $598.7 billion in unrealized losses among the coin’s holder base. And the worst may not be over yet, as Glassnode’s latest weekly report draws a structural parallel that no long-term investor wants to hear.
There are currently around 8.8 million Bitcoins in loss, a direct result of the coin’s 47% decline from its October 2025 all-time high of $126,000. Glassnode explicitly states that there is “Structural similarity with conditions observed in the second quarter of 2022”This is the period before a new collapse and the start of recovery.
Long-term investors (those who hold the currency for more than 155 days) are seeing actual daily losses of up to $200 million, confirming that a sharp capitulation is underway. Meanwhile, Capriole Investments’ “Virtual Demand” indicator is at -1,623 BTC, a level deep in deflationary territory, indicating that sellers are still in control of the scene.
The bigger picture also increases the severity of the pressures; Bitcoin price is currently trading 24% below its 2026 annual opening price of $87,500, coinciding with the strength of the US dollar and continued negativity in the Coinbase Premium Index. This can only mean that institutional buyers in the United States have not yet returned on a large scale.
Bitcoin Price Forecast: Is a rally to $71,500 necessary to avoid a new bottom?
At $66,000, Bitcoin is at a fragile technical level. The average cost to ETF holders of $83,408 stands out as significant overhead resistance, the ceiling that any sustained rally must clear to confirm a trend reversal.
Although U.S. Bitcoin ETFs saw inflows of $1.32 billion in March 2026, snapping a four-month outflow streak, this institutional inflow has yet to translate into a price recovery. This is an encouraging sign, but actual monitoring unfortunately remains insufficient.
“Whale” behavior adds another bearish data point; Large holders have reduced their positions by 188,000 BTC over the past year, matching the dynamics of the broader distribution phase. Just today, Nakamoto Inc sold around 384 bitcoins, resulting in a loss of $20 million.
The level of invalidation of the bearish scenario is simple: a close above $71,500 with sustained trading volume changes the entire narrative. Below the $64,000 level, the bearish scenario will accelerate.
Bitcoin Hyper Project Monitors Early Consolidation as Bitcoin Tests Structural Support
As Bitcoin bleeds 47% from its peak and racks up $600 billion in unrealized losses, the conversation naturally turns to the question: where does the next opportunity lie? Buying Bitcoin in the spot market at these levels results in overhead resistance up to $83,000, meaning a long upward journey for buyers at the top to break even.
This is the Bitcoin Hyper ($HYPER) project, which places itself at the infrastructure level where Bitcoin’s eternal limits lie: slow transactions, high fees and lack of programmability. The project aims to be the first layer 2 of Bitcoin with the integration of Solana Virtual Machine (SVM), aiming to execute smart contracts faster than Solana itself, without abandoning Bitcoin’s security and trust model.
Its decentralized canonical bridge enables native Bitcoin transfers, while its sub-second finality function addresses throughput bottlenecks that have kept Bitcoin out of the large-scale decentralized finance (DeFi) sector.
The pre-sale of the project has been collected $32 million So far, at the current price of $0.0136with a staking reward of 36% per year For the first participants.
For those who want to investigate further, details of the Bitcoin Hyper presale are available here.
This article is for informational purposes only and does not constitute financial advice. Investments in highly volatile digital currencies; So please always do your own research before investing.
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