Bitcoin supply in loss signals early bear market conditions: CryptoQuant
Crypto Briefing
Rising Bitcoin supply in loss suggests the market is structurally weakening and entering early bear market conditions, according to CryptoQuant.Summary
CryptoQuant analyst Woo Minkyu warns that the current rise in Bitcoin's supply in loss, now around 44% despite trading above the realized price, signals the onset of bear market conditions rather than a healthy correction. Supply in loss indicates the percentage of circulating BTC whose last transaction price was higher than the current market value. Historically, such expansion, even before panic selling, has marked the beginning of bear markets. Minkyu concludes that the on-chain data suggests Bitcoin is structurally weakening and transitioning into a bear phase, noting that true cycle bottoms only occur after supply in loss expands further following deeper price compression.
(Source：Crypto Briefing)