This bitcoin metric has marked every bear market bottom, and it's just flashed again
A key bitcoin metric has signaled a potential bear market bottom as the number of tokens held at an unrealized loss exceeds those in profit. Historically, this crossover has occurred during significant market downturns, suggesting a potential turning point for the cryptocurrency.
Why it matters
This data point is closely watched by investors to identify long-term market cycles and potential recovery phases for digital assets.
Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email This bitcoin metric has marked every bear market bottom, and it s just flashed again More than half of the bitcoin in circulation is sitting on unrealized losses as the BTC price tests historically significant bear-market support levels. By James Van Straten | Edited by Sheldon Reback Jun 4, 2026, 10:20 a.m. 2 min read Make preferred on Total Supply in profit/Loss (Glassnode) What to know : The number of bitcoin in circulation priced at a loss has exceeded the supply in profit, with 10.5 million tokens underwater compared with 9.8 million BTC in profit. Historically, this crossover has coincided with major bear market bottoms. The bitcoin price touched its 200-week moving average at $61,300, a long-term support level that has been reached in every previous bear market. The amount of bitcoin BTC $ 62,661.32 supply in loss reached a key bear-market threshold, surpassing 10 million BTC, more than half of the total in circulation.
The article relies on historical data and market metrics to provide an objective financial analysis.
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