Glassnode Data Shows Over 8 Million Bitcoin Underwater as BTC Sits Near 61,080 and ETH Profitability Hits Multi Year Low

Onchain data cited by CoinDesk shows continued deleveraging in crypto. Glassnode estimates over 8 million BTC are underwater as bitcoin trades near 61,080 after a 31% year to date drop and a 2.4% daily fall. Glassnode also says only 11% of ETH supply is over 3x in profit, the lowest since 2017, while XRP fees fell 91.5% since Feb 2025.