[Analysis: Bitcoin UTXO Loss/Profit Ratio Reaches Extreme Levels, Long-Term Accumulation Opportunity Emerges] CryptoQuant analyst Darkfost pointed out that the Bitcoin market is reaching a critical pain threshold for holders, with the number of loss-making UTXOs continuing to increase. The loss/profit ratio has reached extreme levels in terms of holding losses. These levels typically only appear during periods of intense market pressure, such as bear markets. This indicator measures market conditions by comparing the number of profitable and loss-making UTXOs, unaffected by price fluctuations. The analyst believes that the current scale of loss-making holdings is expanding, providing a good accumulation opportunity for long-term investors. However, caution is advised during phases of heightened optimism when profitable UTXOs significantly push up the ratio, as this could signal a market turning point.