[Data: For the first time in this cycle, Bitcoin's unrealized loss supply surpasses unrealized profit supply, potentially signaling a consolidation phase] According to a report by Jinse Finance on July 4, data from Glassnode indicates that the total Bitcoin holdings currently in a loss state have surpassed those in a profit state. The data shows that approximately 10.83 million BTC are now in an unrealized loss state, while about 9.22 million BTC remain in an unrealized profit state. This is the first time this crossover phenomenon has occurred in the current market cycle. Historically, similar situations occurred in 2018 and 2022, after which the market entered a prolonged consolidation phase before prices gradually began to recover and rise.