[Analyst: Bitcoin Supply in Profit Approaching 'True Bear Market' Levels] According to a report by Jinse Finance on April 3, Bitcoin's supply in profit and loss is gradually approaching typical bear market levels, as noted by CryptoQuant analysts. Currently, approximately 11.2 million Bitcoins are in a state of profit. CryptoQuant analyst 'Darkfost' stated on Thursday that during the lowest point of the previous bear market, this figure was around 9 million BTC. CryptoQuant data also shows that approximately 8.2 million Bitcoins are currently in a state of loss. Glassnode's data confirms that this level is nearing the highs last seen at the end of 2022. 'This is significant because, during the last bear market, this figure reached about 10.6 million BTC,' Darkfost remarked. As global turbulence intensifies, analysts have been debating whether Bitcoin has further room to decline this year. On-chain indicators nearing the lows of the previous cycle may suggest that the market bottom is approaching. The analyst added, 'This indicates that the market is entering a significant undervaluation zone, similar to the conditions during the last bear market.'