Data: Bitcoin Supply in Loss Exceeds Profitable Supply for the First Time in Current Cycle, Indicating Market Consolidation Phase

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On July 4, according to Glassnode data, the total amount of Bitcoin in a loss state has surpassed the total amount in a profit state. The data shows that approximately 10.83 million BTC are currently in a floating loss, while about 9.22 million BTC remain in a floating profit. This is the first time this crossover phenomenon has occurred in the current market cycle. Historically, similar situations were observed in 2018 and 2022, after which the market entered a prolonged consolidation phase before prices gradually began to recover.
BTC1.39%
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