Analysis: Bitcoin has fallen below the 0.75 percentile of the supply cost baseline and failed to recover, indicating increasing selling pressure.

Bitcoin has fallen below the 0.75 supply cost-basis quantile and failed to regain that level. The current spot price is below the cost benchmark of 75% of supply, indicating increasing selling pressure. The risk has significantly increased, and unless the price recovers above this level, a downtrend will dominate.