ChainCatcher report, according to The Block, K33’s latest report shows that over 50% of Bitcoin’s circulating supply is currently underwater, a significant increase from 30% a month ago. K33 Research Director Vetle Lunde noted that while Bitcoin typically bottoms out within weeks after reaching over 50% underwater—often following one final downward push—the price has historically risen between 69% and 359% within a year after such a signal emerges. Currently, Bitcoin has also touched its 200-week moving average amid “extreme fear” sentiment, aligning with historical bottom characteristics. K33 maintains its view that $60,000 may represent the low point of this cycle, or at the very least, a highly attractive long-term accumulation zone.
Over 50% of Bitcoin supply in floating loss; K33 flags $60K as potential cycle low
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Summary
Bitcoin analysis from K33 shows that over 50% of Bitcoin’s circulating supply is currently in floating loss, a sharp increase from 30% a month ago. K33 Research Director Vetle Lunde noted that historical Bitcoin analysis indicates a market bottom often occurs within weeks of crossing the 50% threshold. Historically, BTC has risen between 69% and 359% within a year following such a signal. Bitcoin recently reached its 200-week moving average amid extreme fear, aligning with past bottom patterns. K33 identifies $60,000 as a potential cycle low or strong accumulation zone.
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