Everyone's 'stuck'! Over half of Bitcoin's current circulating supply is in an unrealized loss state, according to on-chain data from Glassnode. This 'loss supply ratio' has historically aligned closely with the bottom of every major bear market, serving as a classic signal of extreme market pessimism. From the chart: • The red zone (Bitcoin supply in loss) expanded significantly in 2026; • The orange zone (supply in profit) shrank noticeably; • The yellow curve, representing Bitcoin's price, shows a continuous decline since late 2024, pushing the pain index for holders higher and higher. Historical data suggests that when the loss supply ratio reaches such a high level, it often indicates widespread capitulation in the market, which is typically a signal for long-term investors to start accumulating. However, this doesn't mean an immediate reversal—it usually takes several months of bottom-building. In simple terms: A lot of people are 'stuck' right now, but history tells us this is often one of the signs that the bear market is nearing its end.