Bitcoin long-term holders (LTH) have experienced a relative unrealized loss of approximately 15% as of early April, according to Odaily. This figure is significantly lower than the over 75% seen during historical deep bear market cycles, indicating a milder impact on long-term holders during the current market correction.
Analysts note that despite recent price declines leading to some paper losses, the overall pressure remains much lower than historical cycle lows. This suggests that the current downturn has not substantially tested the conviction of long-term holders. Structurally, the current adjustment appears to be more of a mid-term fluctuation rather than a full-scale cyclical capitulation.