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

ملخص

K33 research indicates that over half of Bitcoin's circulating supply is currently held at a loss, a historical metric that has consistently preceded cycle bottoms within weeks, followed by strong one-year returns in most previous cycles.

Market Context

This analysis suggests Bitcoin (BTC) may be nearing a significant price bottom, potentially attracting contrarian capital and signaling an impending reversal from current price levels. Historically, this metric has led to upward price action over the medium-term, potentially drawing new investment into the crypto market.

المحركات الرئيسية

• Historical on-chain metric signaling cycle bottom
• Potential for contrarian capital inflow into BTC
• Expectation of strong one-year returns post-bottom

المخاطر

• Historical patterns may not repeat due to differing macroeconomic conditions or market structure
• Further price declines could occur before a definitive bottom is established
• The 'within weeks' timeframe is not precise and could extend

الأفق الزمني

متوسط الأجل