I've always felt that on-chain data is much more honest than candlestick charts. In the past few days, I’ve been watching that Bitcoin profit supply ratio, and I watched it slide to around 52%. What does that mean? It means that nearly half of the circulating coins are currently sitting on unrealized losses. Honestly, that number makes my spine feel a bit cold, but when I think it through carefully, historical patterns are right in front of us—50% is often the most brutal turning point in a bear market.
I remember back in June and July, this indicator was briefly smashed through. At that time, market panic had reached an extreme. Now it’s edging back toward the critical level again. I feel like we’re in the deep end of the consolidation washout—where the bottom is, no one can be sure. The slow grind lower could continue for a while. What’s interesting is that this kind of state is precisely the process of shifting supply from retail hands into the pockets of bigger capital. It’s painful, but the structure is getting cleaner.
I think the best strategy right now is to wait—wait for those wavering, unrealized-loss coins to finally be fully cleared. On-chain data won’t lie. It points to the characteristics of the bottom region, but nobody can predict how long it will take. Every time I sit in front of my screen watching these numbers fluctuate, I can’t help but think: only those who make it through this darkest stretch have the right to witness the next dawn. Do you still hold coins? I do—but in my heart, I’m still uneasy. #btc $BTC
I remember back in June and July, this indicator was briefly smashed through. At that time, market panic had reached an extreme. Now it’s edging back toward the critical level again. I feel like we’re in the deep end of the consolidation washout—where the bottom is, no one can be sure. The slow grind lower could continue for a while. What’s interesting is that this kind of state is precisely the process of shifting supply from retail hands into the pockets of bigger capital. It’s painful, but the structure is getting cleaner.
I think the best strategy right now is to wait—wait for those wavering, unrealized-loss coins to finally be fully cleared. On-chain data won’t lie. It points to the characteristics of the bottom region, but nobody can predict how long it will take. Every time I sit in front of my screen watching these numbers fluctuate, I can’t help but think: only those who make it through this darkest stretch have the right to witness the next dawn. Do you still hold coins? I do—but in my heart, I’m still uneasy. #btc $BTC