Deep Tide TechFlow news: On June 29, CryptoQuant analyst MorenoDV_ said that the current reading of the Bitcoin UTXO block profit/loss ratio model has fallen into a range commonly seen during historical bottoming phases, indicating that the market is undergoing a deeper level of internal cleansing. However, the analyst emphasized that this does not mean the bottom has been confirmed—only a larger downward move in the 365-day moving average can prove that the market’s long-term profitability structure has been fully reset, rather than just reacting to short-term oversold conditions. While a brief rebound driven by short squeezes may occur, if the profit/loss ratio cannot be continuously rebuilt, it should not be viewed as a signal of structural recovery. Overall, signs of internal cleansing within BTC are beginning to appear, but historical patterns suggest the market may still need to withstand more pressure before it can fully emerge from this bear market cycle.