Over Half of Bitcoin Holdings Are in Loss as Bear Market Indicator Reemerges

According to ME News, on June 4 (UTC+8), Glassnode data showed that as Bitcoin briefly dropped to $61,300, the number of BTC in an unrealized loss state rose to approximately 10.5 million, surpassing the 9.8 million in a profit state for the first time and accounting for over half of the circulating supply. This marks the first time in this cycle that loss-making positions have outnumbered profitable ones. Historical data indicates that this metric has previously occurred only during deep bear markets and has often coincided with key market bottoms. Similar situations were observed during the bear markets of 2015, 2019, 2020, and 2022, though durations varied from one month to one year. Meanwhile, Bitcoin’s price touched the 200-week moving average at approximately $61,300—a level that has historically served as a critical long-term support during prior bear markets. Analysts suggest that if BTC breaks below the $60,000 psychological level, the next major support will be near the realized price of approximately $54,000, a level Bitcoin has previously breached during major bear markets. (Source: BlockBeats)