Bitcoin Supply In Loss Crosses Critical Threshold — Bullish Reversal Next?
Summary
Bitcoin appears to be stabilizing around $60,000 after a sharp drop, and on-chain data suggests a potential bottom may be forming. A key indicator, Bitcoin Supply in Loss, has risen above 10 million BTC, meaning more than half of the circulating supply is now held at unrealized losses. Historically, Bitcoin has often marked major cycle bottoms when this metric crossed that level, including in late 2018 and around 2022, followed by bullish reversals. However, the current supply is larger than in those prior cycles, so the metric could rise further before a durable bottom is confirmed. Bitcoin is currently trading near $62,746, up about 2.5% in the past 24 hours.
