Bitcoin nears cycle bottom as over half of supply is held at a loss, says K33
CoinTelegraph·
60-second summary
Bitcoin is nearing a potential cycle bottom as over half of its circulating supply is held at a loss, according to K33, a data analytics firm. Historically, this milestone has preceded strong one-year returns, with previous cycles experiencing significant price recoveries within weeks of this threshold being met, boosting market sentiment and investor confidence.
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.