Bitcoin has climbed back above the $70,000 level after a difficult start to 2026, yet uncertainty remains about whether the market has already seen its lowest point. While the recent recovery has improved sentiment, on-chain data suggests the asset may still be moving through a bottoming phase rather than starting a full upward trend.
The token is up 1.59% over the past 24 hours, trading at the $71,928 level. The latest daily trading volume of Bitcoin has increased significantly to $51.19 billion, pushing its market capitalization to $1.44 trillion, with dominance holding near 59.07%. Despite these gains, the broader picture shows that Bitcoin is still recovering from a steep decline earlier this year.
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Long-Term Holder Loss Signals Bitcoin Bottom
According to insights provided by Santiment, the latest Bitcoin rally was moderate compared to its overall fall of 20% this year. It can be observed that other traditional financial instruments showed more stable dynamics, with the S&P 500 down only 2% and Gold gaining about 9% in 2026.
Santiment also highlighted that future price dynamics will be strongly influenced by the current geopolitical situation and any potential approval of the Clarity Act. Both events might have a considerable impact on crypto markets, enabling them to experience a sustained rise over the next few months.
One of the indicators currently being monitored by analysts is the long-term holder supply in loss. This metric calculates the amount of Bitcoin stored in long-term wallets, meaning that the owner hasn’t moved the coin for more than 155 days, and its current price is below the one when purchased. Previously, this figure served as an excellent market bottom indicator.
Bitcoin Holds Above $70,000 Support
As crypto analyst Ardi pointed out, the previous cycles showed similar figures. For example, in 2015, 53% of long-term holder supply was in loss near the bottom. During the 2018 period, the figure was 45%, while in the 2022 low, it was 44%. As a result, each of those cycles demonstrated the period when selling pressure declined, and stronger holders were in charge of the market.
The current figure is only 29% and increasing, meaning that more long-term holders are experiencing losses in their investments. However, this metric does not confirm that the market has already reached its bottom. Instead, it shows that the crypto asset may require some additional time to establish itself as a stable foundation.
At the same time, the cryptocurrency remains above the $70,000 support level, which is considered important from a psychological perspective. The lowest point for Bitcoin was around $63,000, which occurred during the overall decline in the crypto market in early February.
In general, the current crypto market situation is mixed. On one hand, no particular trends can be observed regarding the movement of prices for the most popular cryptocurrencies. Moreover, the Crypto Fear and Greed Index, which measures overall market sentiment, stands at 43. Thus, the sentiment is neutral at the moment.
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