[Analysis] More Than Half of Bitcoin Holders Are Underwater, Suggesting Price Bottom May Be Near
Uk Jin
Summary
- Darkfost, a CryptoQuant contributor, said the amount of loss-making active Bitcoin supply has surpassed the amount held at a profit.
- He said the share of Bitcoin supply in profit has fallen below 45%, meaning more than half of the Bitcoin covered in the analysis is trading below its purchase price.
- Darkfost said Bitcoin may be nearing a bottom, adding that historically, when the share of Bitcoin in profit fell below 40%, it often coincided with the bottom of a price correction.
Forecast Trend Report by Period
More than half of Bitcoin holders are now sitting on losses.
Darkfost, a CryptoQuant contributor, wrote in a post on X, formerly Twitter, on November 14 that the share of Bitcoin's active supply held at a loss has exceeded the share held at a profit.
His analysis showed that less than 45% of the remaining Bitcoin supply was in profit. That means more than half of the Bitcoin covered in the analysis is trading below its purchase price.
Based on that, Darkfost said Bitcoin may be approaching a bottom. Historically, when the share of Bitcoin in profit fell below 40%, it often coincided with the bottom of a price correction, he added.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.