🚨 HISTORIC: More Bitcoin is now being held at a LOSS than at a PROFIT for the first time this market cycle. 🤯
According to Glassnode data, approximately 10.83 million BTC are currently underwater.
Only 9.22 million BTC remain in profit.
This is the first time loss-making supply has overtaken profitable supply since the current cycle began.
Most investors see this as a reason to panic.
History suggests it's often the opposite.
The same crossover happened during the 2018 and 2022 bear markets.
Both periods were followed by months of accumulation before Bitcoin eventually entered a sustained recovery.
No signal guarantees the future.
But when the majority of holders are underwater, the market has often been much closer to opportunity than euphoria.
The biggest gains are rarely made when everyone feels comfortable.
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