Analysis: Bitcoin On-Chain Losses Near November 2022 Levels

BlockBeats News, February 6th, CryptoQuant analyst Darkfost stated that the market is approaching the loss supply level seen during the last bear market. In November 2022, approximately 10.5 million bitcoins were in a state of unrealized losses. Currently, over 9.5 million bitcoins are in a state of unrealized losses, while about 10.4 million bitcoins are still in a state of profit.

Darkfost also pointed out that the market is about to see a situation where the number of bitcoins in unrealized losses is roughly equal to those in profit, a scenario last seen at the end of the 2022 bear market. It is worth noting that this correction is very significant, with the supply of unrealized losses rapidly increasing.