This bitcoin metric has marked every bear market bottom, and it's just flashed again

More than half of the bitcoin in circulation is sitting on unrealized losses as the BTC price tests historically significant bear-market support levels. What to know : The number of bitcoin in circulation priced at a loss has exceeded the supply in profit, with 10.5 million tokens underwater compared with 9.8 million BTC in profit. Historically, this crossover has coincided with major bear market bottoms. The bitcoin price touched its 200-week moving average at $61,300, a long-term support level that has been reached in every previous bear market.