[Analyst: Active Bitcoin Investors Face an Average Unrealized Loss of About 20%, Market Remains in a Cyclical Pressure Phase] BlockBeats News, July 4 – Crypto analyst Darkfost posted on social media stating that currently, active Bitcoin (BTC) investors are experiencing an average unrealized loss of approximately 20%. This conclusion is based on the 'True Market Mean (TTM)' indicator, which excludes Bitcoin that has remained unmoved for a long time, potentially lost, or no longer participating in circulation, thereby more accurately reflecting the cost level of the actively circulating supply. Data shows that the current TTM is approximately $76,700 and has recently acted as a significant resistance level in the market. Historically, during market correction phases, some investors tend to exit the market to avoid incurring greater losses rather than continuing to hold, making this price level a key area for short-term supply and demand dynamics. At the same time, the 'Active Value to Investor Value Ratio' is currently around 0.8, within the valuation downtrend range, corresponding to an unrealized loss of about 20%. Although this level is under significant pressure, it has not yet reached the extreme range of 0.5 to 0.6 (approximately 40%–50% losses) seen in historical bear markets. While the market continues to exhibit cyclical characteristics, the ongoing entry of institutional funds and ETFs has not yet altered Bitcoin's overall cyclical patterns. Future trends still require cautious observation. [Original Link]