This Indicator Says Bitcoin Still Hasn’t Reached A Bear Market Bottom

2022-5-3 22:00

On-chain data shows Bitcoin hasn’t yet hit a bear market bottom as the supply in profit is still more than that in loss.

Bitcoin Supply In Profit/Loss Says A Majority Of Network Is Still In Profit

As explained by an analyst in a CryptoQuant post, past trend may suggest that the current BTC market still hasn’t reached a bear bottom.

The relevant indicators here are the “supply in profit” and the “supply in loss.” These metrics measure what percent of the total Bitcoin supply is in profit and what part of it is in loss, respectively.

The indicators work by checking the on-chain history of each coin to see what price it was last moved at. If this previous value was less than the price of BTC today, then the coin is currently holding a profit.

Related Reading | Data Shows Large Institutions Are Still Active In Bitcoin OTC Trading

On the other hand, the last selling price being more than the current one would imply this coin counts under the supply in loss at the moment.

Now, here is a chart that shows the trend in the two Bitcoin indicators over the history of the crypto:

It seems like the majority of the BTC network is still in profit | Source: CryptoQuant

In the above graph, the analyst has marked the important regions of trend relating the indicators and the price of Bitcoin.

It looks like bear market bottoms have historically formed whenever the supply in loss has exceeded that in profit.

Such high loss values occur following macro capitulations. From the chart, it’s clear that the supply in profit is currently still dominating that in loss.

The supply in loss measures around 38% right now. If the past trend is anything to go by, Bitcoin at the moment doesn’t look to have reached a bear market bottom yet.

Nonetheless, the current supply in loss values are still very high and not too far off from the bottom tipping point.

Related Reading | Wall Street Giant Goldman Sachs Makes History, Offers First Bitcoin-Backed Loan

It now remains to be seen whether the market observes another capitulation event soon, which would take the supply in profit below the 50% mark.

A bear market bottom may form that way, but the price of the crypto will observe another crash in such a scenario.

BTC Price

At the time of writing, Bitcoin’s price floats around $38.6k, down 1% in the last week. Over the past month, the crypto has lost 16% in value.

The below chart shows the trend in the price of the coin over the last five days.

Looks like the price of BTC has dwindled down over the last few days | Source: BTCUSD on TradingView Featured image from Pixabay.com, charts from TradingView.com, CryptoQuant.com

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 94157.01 (-0.05%)
Объем 24H $54.919b
Изменеия 24h: -2.04 %, 7d: -11.84 %
Cегодня L: $93321.34 - H: $95165.72
Капитализация $1864.355b Rank 1
Цена в час новости $ 38422.62 (145.06%)

still market profit bitcoin supply loss bear

Источник: bitcoinist.com

still market → Результатов: 126


Chinese Crypto Investors Circumventing Increased Government Regulations

Despite increasing state regulations surrounding the year-long cryptocurrency ban in China, investors are still finding ways to get involved with the market. On August 23rd, the Shanghai Securities Times reported that Chinese authorities are increasing their regulation by preventing investors’ access to 124 non-native exchanges.

2018-9-11 17:48


Фото:

World’s Most Expensive CryptoKitty Sold For 600 ETH ($170,000)

The 896,775th CryptoKitty Sells For 600 ETH Even amidst a bearish market, some users still seem to want to pour their hard-earned crypto funds into popular DApps and smart contracts. As reported by CNET, the 896,775th CryptoKitty, named Dragon, has just been sold for 600 Ethereum (ETH) or the equivalent of $172,000 at the time […] The post World’s Most Expensive CryptoKitty Sold For 600 ETH ($170,000) appeared first on Ethereum World News.

2018-9-6 23:37


The Bitcoin Foundation Secures Funding to Educate Stakeholders, Regulators and More

Despite Bitcoin’s 80 percent decline in the market dominance it held in January 2017, it is still the most recognizable name in cryptocurrency, and The Bitcoin Foundation is taking advantage of this with new initiatives to educate lawmakers, regulators, the general public, the media and more through training programs and seminars.

2018-9-4 13:00


Year-to-Date, Bitcoin Outperformed 3 National Currencies Despite Major Correction

Bitcoin, the most dominant cryptocurrency in the global market, has still managed to outperform three national currencies year-to-date despite its steep decline since December of last year. Charlie Bilello, the director of research at Pension Partners, a New York-based investment advisory which manages mutual funds and separate accounts, published a chart comparing the returns of.

2018-9-3 19:12


Фото:

Crypto Lending Platforms: SALT, Nexo, ETHLend and BlockFi Compared

Crypto lending platforms are still in surprisingly short supply, given the size of the market opportunity. Buying the dip may have left you a little short for the rest of the year: so you could cash out, potentially missing out on those sick gainz when the SEC approves the ETF and Coinbase lists all your […] The post Crypto Lending Platforms: SALT, Nexo, ETHLend and BlockFi Compared appeared first on Crypto Briefing.

2018-9-1 17:32


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival

Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.

Bitcoin Diamond Hands Still Unbroken: 30.7% Of Supply Dormant For 5+ Years

Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]

Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time?

Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.

Bitcoin Difficulty Jumps 3% As Hashrate Slowly Recovers

On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]

Bitcoin Investors Have Turned Greedy Again: What Could Be Next For BTC?

Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]

These Are The Biggest Bitcoin Support & Resistance Zones, Analyst Reveals

An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.