Bitcoin (BTC) Unrealized Losses Stay Low, Buyer Activity Increased

As of April 15, 2025, Bitcoin’s unrealized losses stayed low at 24%, indicating the market has not capitulated.

Key Insights:

As of April 15, 2025, Bitcoin’s unrealized losses stayed low at 24%, indicating that the market had not yet capitulated.

Buyer activity increased despite recent volatility, and a confirmed breakout above a key trendline gave traders renewed optimism.

Unrealized Losses Stayed Low Despite Price Pullback

According to CryptoQuant, only 24% of Bitcoin’s circulating supply was held at an unrealized loss. Historically, anything below 25% was seen in early-stage corrections, not in a full market capitulation.

In previous market bottoms, the percentage of supply in loss rose above 50% and was a sign of major sell-offs and panic. However, according to the latest data, most of the Bitcoin holders were still in profit or close to breakeven. It also showed that many participants had built their positions long ago.

This 24% figure was in line with the view that Bitcoin was not in a deep capitulation phase. Higher levels of unrealized losses typically precede major price bottoms and lower levels are seen during periods of consolidation or after temporary corrections.

Buyer Momentum Recovered As Taker Volume Flipped Positive

On the other hand, from March 16 to April 10, net taker volume was mostly negative, with several days under -$600 million. This indicated that sellers were more active and coincided with Bitcoin falling to around $79,000.

However, on April 11, this trend reversed. Cumulative net taker volume flipped positive for the first time in weeks, going above $0 and then rocketing to over $800 million by April 13. Meanwhile, Bitcoin’s price bounced back from below $80,000 and surpassed $85,000 as buyers return to the table.

Market participants’ aggressiveness is measured by the net taker volume. If the volume is positive, it usually means buyers are in control and will pay the ask price. This shift gave the price short-term support, and it held its ground even during the brief retracements.

The cumulative volume remained positive by April 15, and Bitcoin kept its level above $85,000. This reversal was consistent, and the sentiment had shifted, with bulls taking more risk in the derivatives market.

Binance Order Book Sell Wall Emerged Around $86K

CoinGlass data revealed a sell wall of over 3,000 BTC stacked between $85,700 and $86,000 on Binance. These large sell orders often form resistance zones, as liquidity pools attract selling activity and can stall bullish momentum.

Price action slowed as Bitcoin approached this range. The local high of the market was recorded at $85,555 before it pulled back slightly. This implied that sellers were starting to take in buying pressure at those upper levels.

Traders can use sell walls to indicate where they expect price reversals or strong resistance. If that buying pressure is not strong enough to take those orders, the price may consolidate or fall back for a while. But if the orders are filled and demand continues, a breakout above the wall may occur.

Technical Breakout Held Above 2025 Trendline

Earlier this month, Bitcoin confirmed a breakout above a descending trendline that had rejected upward moves in January, February, and March.

With this level now acting as support, the breakout has shifted the short-term structure to bullish. Holding above the trendline increases the chances of upward continuation, although macro risk factors may still influence direction.

In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.