Analyst: Bitcoin Profit/Loss Supply nears ‘Capitulation’ Levels

BlockBeats News, April 3rd. According to CryptoQuant analyst Darkfost, the current Bitcoin profit supply is about 11.2 million coins, and the loss supply is about 8.2 million coins, approaching a typical bear market level. Compared to the bear market low point in 2022, the profit supply was 9 million coins, while the loss supply was about 10.6 million coins. The analyst believes that this indicates that the market is entering a significant undervalued state, and the bottom may be near.

However, Andri Fauzan Adziima, research director at the Bitrue exchange, believes that the data reflects "increased market pressure rather than immediate undervaluation." A true bottom would require a deeper level of loss (such as a loss supply exceeding 50% and a profit supply below 45% as in 2022). The current Bitcoin drop from its all-time high is about 52%, much lower than the 77%-84% drop in previous bear markets.

Furthermore, analyst Timothy Peterson pointed out that the strengthening of the US dollar (the US Dollar Index rose about 5% in two months) and the weakness of the Chinese yuan have limited Bitcoin's rebound, and he expects the attractiveness of the US dollar to diminish until the second half of 2026 or 2027.