According to IntoTheBlock, Bitcoin's price fell below $80,000, resulting in only 75% of the total Bitcoin supply being in profit. The current price is nearing a critical demand zone that aligns with the previous all-time high of approximately $69,000, suggesting a potential turning point for traders.

According to Glassnode, the $BTC Cost Basis Distribution reveals the last substantial demand zone between $89K and $87K. Below this, investor cost bases are sparse until $71K-$72K, suggesting weaker support and potential bearish control in this price range.

According to IntoTheBlock, a massive demand zone for Bitcoin has formed just below the current price, with on-chain data indicating that 2.76 million addresses acquired a total of 2.1 million BTC at an average price of 97.1k. This highlights significant buying interest at this level, which could act as a support if the market faces further downward pressure.

According to IntoTheBlock, Bitcoin has recently experienced a near 5% price drop, positioning itself just above a critical demand area. Approximately 1.46 million addresses have purchased Bitcoin at an average price of $96.3k, suggesting a robust support level at this point.