More than 50% of bitcoin supply is underwater; prior bottoms followed within weeks, often after a final leg lower: K33
Hex37's read
- Over 50% of Bitcoin's supply is currently trading at a loss.
- This condition historically signals proximity to major bear market bottoms.
- Previous bottoms often occurred within weeks after such levels were reached.
What it means for traders
- This metric suggests potential for a market bottom, but a final capitulation leg lower is possible.
- Traders might consider looking for signs of accumulation or a reversal pattern before entering long positions.
Affected markets
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