Glassnode pinpoints threshold to halt the bear trend
Glassnode says reclaiming the 0.75 cost-basis quantile is key to halting bitcoin's bear trend. Bulls must quickly push bitcoin back to the level at which 75% of coins are in profit—only then, historically, has the trend reversal been arrested, Glassnode analysts said. $BTC has broken below the 0.75 cost-basis quantile, a level that has historically marked bear-market territory. Across cycles, reclaiming and holding above it has been key to restoring bullish structure. Bulls will want to see this level regained.📉
https://t.co/EtwrSOJz63 pic.twitter.com/2dljEU7j1R — glassnode (@glassnode) November 19, 2025
According to the firm, bitcoin’s price has slipped below the cost-basis 0.75 quantile, which approximates the average entry price of investors. The metric is used as a gauge of market structure: historically, reclaiming and holding above this level has required significant buying and has served as a key signal of trend recovery. Current price action points to the need for consolidation before any attempted reversal. An analyst using the handle Darkfost noted that as of November 19, 6.96 million BTC were at a loss—the largest volume since January 2024.
Today, more than 6.96 million BTC accumulated by investors are now sitting at a loss. This is the highest level of unrealized loss since January 2024, even though the ongoing correction still hasn’t surpassed the deepest drawdown of this cycle.