As BTC's price faces new resistance at $26,000, its percentage supply in profit has declined, while its percentage supply in loss has climbed, according to on-chain data.
The analyst assessed BTC’s Supply in Profit and its Supply in Loss metrics. These metrics measure the percentage of BTC currently held in profit and loss.
“This can act as a precursor to a bearish phase or a prolonged period of consolidation, especially if combined with other bearish indicators.” “Indicates that a significant fraction of holders who were previously in profit are now in a state of diminished returns or potential losses.”On the other hand, the percentage of BTC’s Supply in Loss has gone by 46% since the beginning of the month, according to data fromNoting that the combination of these two metrics hinted at a significantly bearish market, the analyst concluded:
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