BULLISH 📈 : Bitcoin supply in loss crosses 10.46M BTC threshold, signaling potential bottom
Supply-in-loss jumps past 10.46M coins. An on-chain signal hints at a bottom forming.
After 48 days of selling, Bitcoin is holding near $60,000. On-chain data points to a potential reversal.
On June 7, Ali Martinez said a cycle bottom may be in. He cited Supply in Loss crossing a key threshold on X.
Glassnode shows 10.46M BTC are now held at a loss. That’s over half the circulating supply. In past cycles, bottoms formed when loss-held coins topped 10M according to the same chart.
“Selling pressure often begins to fade as fewer investors are willing to realize losses,” Martinez wrote here.
Context matters. Circulating supply was lower in 2018 (~17.4M) and 2022 (~19.2M). The loss threshold could run higher this time; in 2015, a reversal came before 10M loss coins per the historical view and supporting context from NewsBTC.
Price check: BTC trades near $62,746, up 2.5% on the day on the BTC page.
