[Analysis] “Bitcoin’s share of loss-making supply tops 40%…a signal of a shift into a bear market”
Uk Jin
Summary
- An analysis said Bitcoin has plunged intraday, suggesting the market may have entered a downtrend.
- CryptoQuant said Bitcoin’s loss-making supply jumped to 44%, a pattern observed in past early bear-market phases.
- It added that loss-making supply topping 40% has often meant the start of a prolonged downturn, and that the current phase may be a bear-market transition.
Forecast Trend Report by Period
Bitcoin (BTC) has tumbled sharply intraday, prompting analysis that the market may have entered a downtrend.
On the 2nd (KST), CryptoQuant contributor Woominkyu said in a report, “Bitcoin is still trading above the realized price, but the amount of supply in loss has surged to 44%,” adding that “in past cycles, this pattern was mostly observed in the early stages of bear markets.”
He continued, “In particular, when loss-making supply exceeds 40%, it has often signaled the start of a prolonged downturn,” and added that “the current phase may mark a transition into a bear market.”
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
