10.50 MILLION BITCOIN HELD AT LOSS For the first time this cycle, Bitcoin's supply in loss, currently at 10.45 million BTC, has officially surpassed its supply in profit, at 9.60 million BTC. With more than half of the circulating network sitting underwater, this rare crossover signals that speculative froth has been washed out of the market. Over the past 15 years, this specific event has emerged exclusively when Bitcoin is at or very close to a major cycle bottom. • September 2011: The first historical cross occurred. By November 2011, Bitcoin officially established its bottom and started a new bull market. • September 2014: The second cross arrived. The market consolidated under these conditions until October 2015, which marked the definitive beginning of the next major expansion. • November 2018: The third inversion occurred during the depth of the bear market. Bitcoin carved out its cycle floor and initiated a new bull market by March 2019. • March 2020: The liquidity flush triggered a rapid crossover. The inversion lasted only 17 days, with the price turning aggressively higher by April 2020. • June 2026: The first cross of the current cycle officially activated. The metrics have remained inverted since then. While historical data shows that the duration of these crossover periods can vary from a few weeks to several months before a primary trend reversal begins, it confirms that BTC is currently trading inside a high-conviction accumulation zone.(Ali Charts)