Bitcoin nears cycle bottom as over half of supply is held at a loss, says K33

K33 said Bitcoin has historically bottomed within weeks of more than half of its circulating supply being held at a loss, with strong one-year returns following in most previous cycles.

Source: cointelegraph.com

Expert opinions (1)

• Anton Erpulev, CEO & Co-Founder at PowerSun Market: When K33 reports that over half of Bitcoin's supply is underwater, most people see a bearish signal. But look at what happened after the 2018 capitulation, when unrealized losses peaked at 58% in December: within 12 months, BTC was up 240%. The same pattern emerged in 2015 and 2020. This isn't…