Less than 45 percent of Bitcoin supply is still in profit. 😨
CryptoQuant data shared on Binance Square shows under 45 percent of active Bitcoin supply remains in profit, so more than half of the measured supply is underwater against its last on chain move. 📊 Short term holder realized price sits near 75,068 dollars, and the MVRV Z score has fallen to 0.33, historically depressed territory, while Bitcoin trades near 64,767 dollars. My reading is that when most recent buyers are losing money, every bounce meets sellers who just want out even, and that is why rallies keep failing. This is not a bottom call, it is a warning that capitulation is a process, not one candle.
Do you think the bottom forms while holders are this deep underwater, or does the pain need one more leg first? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #OnChain
CryptoQuant data shared on Binance Square shows under 45 percent of active Bitcoin supply remains in profit, so more than half of the measured supply is underwater against its last on chain move. 📊 Short term holder realized price sits near 75,068 dollars, and the MVRV Z score has fallen to 0.33, historically depressed territory, while Bitcoin trades near 64,767 dollars. My reading is that when most recent buyers are losing money, every bounce meets sellers who just want out even, and that is why rallies keep failing. This is not a bottom call, it is a warning that capitulation is a process, not one candle.
Do you think the bottom forms while holders are this deep underwater, or does the pain need one more leg first? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #OnChain
