BEARISH 📉 : 46% of Bitcoin supply is held at a loss

Current data indicates that nearly half of all Bitcoin is held at a loss, amounting to approximately 9.31 million BTC. This represents 46% of the total supply and suggests a substantial overhead supply that may need absorption before reaching a price bottom.

The Bitcoin Supply In Loss metric surged after the cryptocurrency's bearish reversal following its all-time high in October.
Many holders are likely waiting to sell at breakeven or minimal profit, creating potential selling pressure as prices rise.
The UTXO Realized Price Distribution (URPD) highlights that losses are clustered between the $80,000-$95,000 and $105,000-$120,000 ranges.
Previous bear markets showed that significant consolidation and transfer of loss supply to more resilient holders are necessary for a durable bottom to form.

Currently, Bitcoin is experiencing sideways movement, trading around $68,600 after recovering from a low of $60,000.