The Bitcoin price  has descended below 88,000 dollars, placing itself in a zone of technical fragility following the collapse of a key profitability indicator. According to data analyzed by CryptoQuant, the Net Realized Profit and Loss metric has returned to the zero line, signaling that selling pressure is currently exhausting the buyers in the market.
This technical situation, reported by analyst Adler AM, bears an alarming similarity to the events of June 2022, a period preceding a massive price collapse. Back then, the Bitcoin price ound no support at the cost-basis equilibrium, leading to a vertical drop that dragged down the entire market of cryptocurrencies during that historical cycle.
Furthermore, the 97% drop in realized profit volume suggests that investors have stopped perceiving substantial gains in their on-chain movements over recent days. Although large holders or “whales” maintain a considerable profit margin, the absence of fresh demand has left the Bitcoin price  vulnerable to any negative external factors or macroeconomic uncertainty arising globally.
A fragile equilibrium sustained by the absence of sellers
Under this scenario, the market is sustained more by the lack of massive liquidations than by a genuine buying interest at the current price levels. Thus, the fact that the Net Realized Profit and Loss indicator has flattened indicates a state of generalized exhaustion among the participants of the digital financial sector during this session.
On the other hand, the current dynamics reflect that, despite the stability of institutional portfolios, retail sentiment has shifted toward extreme fear according to recent metrics. This configuration is dangerous, as historically a return to the zero profitability level often precedes deep capitulation phases where prices seek new local lows to effectively reset the current market cycle.
Will geopolitical tensions force a new crash toward critical price levels?
However, macroeconomic factors, such as the tariff threats launched from the White House, have injected a dose of volatility that has liquidated millions in long positions. Therefore, if capital flow into exchange-traded funds remains negative, it is likely that the Bitcoin price today January 26 2026 will face a technical correction toward the 70,000 dollar zone soon.
Finally, the stability of the ecosystem now depends on the ability of psychological support levels to contain the panic regarding a possible commercial recession. Therefore, investors must closely watch if trading volume manages to absorb the supply, thus preventing a pause in profitability from turning into a crash of historic proportions for the asset.
