Bitcoin Supply in Profit Approaching Bear Market Levels
- Approximately 11.2 million Bitcoin (BTC) are currently in profit, nearing the 9 million BTC recorded at the lowest point of the last bear market.
- About 8.2 million BTC are at a loss, a level not seen since late 2022.
- During the previous bear market, the supply in loss peaked at around 10.6 million BTC.
- Bitcoin has declined by about 52% from its all-time high this cycle, significantly less than previous bear markets which saw declines of 77% to 84%.
- The US dollar index (DXY) has increased by approximately 5% over the past two months, affecting Bitcoin’s recovery potential.
Current data indicates that Bitcoin is approaching levels typical of a bear market, with significant amounts in both profit and loss being observed. Analysts suggest that while some metrics indicate potential undervaluation, others point towards increasing market stress.
As of now, there are about 11.2 million BTC in profit and 8.2 million BTC at a loss, reflecting conditions similar to previous bear markets.(Source)
