[Analysis: The number of BTC in loss during the previous two bear market bottoms was 10.6 million, corresponding to a price of $60,000 this cycle] BlockBeats News, May 23: Analyst Murphy stated that during the bear market bottoms in February 2019 and January 2022, the number of BTC in loss was 10.6 million in both instances. If this pattern continues in the current bear market, the corresponding bottom price would be approximately $60,000. Whenever the amount of BTC in circulation at a loss reaches a certain critical threshold, the supply side may face exhaustion, making it difficult for prices to continue declining. On February 5, 2026, when BTC fell to $60,000, the number of BTC in loss had already approached 9.93 million. If it returns to $60,000 again, the loss amount in the current BTC holding structure will reach 10.6 million, potentially coinciding with the previous bear market bottoms. [Original link]