Bitcoin traded at $65,172, or 48.37% below its record high, leaving Satoshi Nakamoto's 1.096 million Bitcoin worth $71.19 billion, down about $67 billion from more than $138 billion when the token hit $126,198 last year. The price is hovering near levels last seen in September 2024, although earlier crypto winters saw peak-to-trough losses of up to 80%. Rafael, Glassnode co-founder, said BTC remains on shaky legs as spot activity, the daily spot turnover ratio and trading in ETFs and DAT equities stay subdued, making a sustained recovery hard to envision without broader participation. Separately, BIP-110 (Bitcoin Improvement Proposal-110, a proposed Bitcoin rule change) spawned a minority chain on Saturday that had produced only two blocks hours after launch; Michael Saylor said just 2.6% miner signaling (miners indicating support for a change) means the chain could stall at block 961,632 or fork into irrelevance while Bitcoin continues normally.