CryptoQuant: Traders are currently facing the largest unrealized loss rate since November 2022

According to 8MarketCap data, Bitcoin has fallen more than 16% in the past 24 hours, breaking through the support level of $57,000. However, it is still among the top ten global assets with a market value higher than Berkshire Hathaway. According to CryptoQuant analysis, breaking through the $57,000 support level indicates that the market may further probe into the $40,000 range. Currently traders are facing their largest unrealized loss rate since November 2022.