Bitcoin active supply in loss now exceeds supply in profit, analyst says

Bitcoin’s active supply held at a loss has now exceeded the share held in profit, according to an analysis by on-chain analyst Darkfost. Excluding coins that have not moved for more than 10 years, less than 45% of Bitcoin’s current supply is in profit, meaning most active supply is now underwater, Darkfost said. Historically, bottoms often formed when that ratio fell below 40%, while downturns often followed when the share of supply in profit approached 100%, Darkfost added.