Bitcoin Supply in Loss Approaches Bear Market Levels
- 43% of Bitcoin supply is currently in loss, while only 57% remains in profit.
- Historically, approximately 75% of Bitcoin supply needs to be in profit to confirm a bull market trend.
- Current conditions are closer to those seen during deep bear market phases, according to CryptoQuant contributor Darkfost.
- Macro factors such as a significant rise in oil prices have added pressure on Bitcoin’s market position.
The current state of the Bitcoin market shows signs of stabilization but remains vulnerable due to macroeconomic pressures and a significant portion of the supply being underwater. The historical threshold for a confirmed bull trend has not been met, indicating potential for further market corrections.
With only 57% of Bitcoin supply in profit, the market is nearing bear territory, influenced by external economic factors like rising oil prices and geopolitical tensions. (Source)
