Supply in profit on $BTC has collapsed over the past couple of months, while supply in loss remains elevated.


This reduces the risk of seeing further downside on the low-timeframes, however, it creates another risk:
Underwater holders may create resistance later as price returns toward breakeven.
But for now, this is a STRONG BULLISH CONFLUENCE.
Bitcoin has already absorbed a major washout and is much closer to a DURABLE HIGH-TIMEFRAME BOTTOM.
BTC-0.97%
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