Wu Says learned that CryptoQuant analyst Darkfost tweeted that Bitcoin's net supply ratio has been negative for a week and dropped to -0.075, corresponding to a buy signal; the last time a similar situation occurred was at the end of the 2022 bear market. Darkfost said that UTXO analysis shows the Bitcoin market is entering a phase where accumulation becomes relevant, with multiple indicators reaching extreme values, pointing to seller exhaustion. However, this indicator is not used to identify tops or bottoms, but to help determine whether the overall supply is in a state of large profit or large loss; this does not mean that BTC will not decline further, and we still need to wait for demand to recover.