Bitcoin 60,000–70,000 USD Seen as Deep Bear Price Range, 50% of Holdings at Risk of Loss

In accordance with Blockbeats, on November 20, chain data analyst Murphy noted that Bitcoin’s PSIP (Profit Supply Percentage) 7-day average has dropped below 70%, indicating a shift in market sentiment. Historical data suggests that the first decline during bull-to-bear transitions often reaches this level before a rebound. When PSIP falls below 50%, it signals a deep bear phase, with 60,000–70,000 USD likely to be the range where PSIP drops below 50%. At current BTC price of 92,000 USD, 6.7 million BTC are in a loss position, representing 33% of total circulation. If prices fall to 59,000 USD, 9.744 million BTC will become trapped, with PSIP around 50%.