Bitcoin supply in profit heads to ‘true bear market’ levels
CryptoQuant data shows there are 8.2 million Bitcoin currently at a loss, which is still under the amount of Bitcoin at a loss during the 2022 bear market.
The amount of Bitcoin supply in profit and loss is now getting closer to levels typical of a bear market, according to a CryptoQuant analyst.
There are currently about 11.2 million Bitcoin (BTC) in profit. The previous bear market recorded 9 million BTC in profit at its lowest point, CryptoQuant analyst “Darkfost” said Thursday.
CryptoQuant data also shows there are about 8.2 million Bitcoin at a loss, with Glassnode data confirming it’s at levels not seen since late 2022.