Bitcoin supply in loss surpasses 10M, flashing bear-market bottom signal

Bitcoin supply in loss has surpassed 10 million BTC for the first time in the current market cycle, a threshold that has historically coincided with bear market bottoms.

According to Glassnode data, the amount of Bitcoin held at an unrealized loss peaked at about 10.5 million BTC on Thursday as the price fell to as low as $61,300. With total circulating supply around 20 million BTC, more than half of all coins are now underwater. Meanwhile, supply in profit declined to roughly 9.8 million BTC, marking the first time in this cycle that loss-held coins exceed profit-held ones.

This metric has been a reliable indicator of market bottoms in previous cycles. When the majority of holders are at a loss, it often signals capitulation and a potential reversal. For crypto traders, this development suggests that selling pressure may be exhausting, and the market could be nearing a bottom. Live crypto prices and charts on NowPrice show how Bitcoin is reacting to this on-chain signal.

Looking ahead, traders will watch whether Bitcoin can hold above the $60,000 level and if the supply in loss metric begins to decline, indicating that coins are moving back into profit. A sustained recovery above $65,000 could confirm the bottom, while further downside may test the $58,000 support. The next few days will be crucial for determining the short-term direction.