Analyst: Bitcoin profit and loss supply approaching "true bear market" levels

2026-04-03 06:21:48

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BlockBeats news, April 3, according to CryptoQuant analyst Darkfost, the current Bitcoin profit supply is about 11.2 million BTC, the loss supply is about 8.2 million BTC, and it has already approached typical bear-market levels. Compared with the lowest point of the 2022 bear market, the profit supply was 9 million BTC, while the loss supply reached about 10.6 million BTC. The analyst believes this indicates the market is entering a significantly undervalued state, and the bottom may be near.

However, Bitrue exchange research head Andri Fauzan Adziima believes the data reflects “rising market pressure rather than an immediate undervaluation,” and the real bottom requires deeper losses (such as 2022 loss supply exceeding 50% and profit supply below 45%). Bitcoin is currently down about 52% from its all-time high, far lower than the previous bear markets’ drawdowns of 77%-84%.

In addition, analyst Timothy Peterson noted that a stronger U.S. dollar (the U.S. Dollar Index has risen by about 5% over the past two months) and a weakening Chinese yuan have limited a Bitcoin rebound. He expects the dollar’s appeal may not fade until the second half of 2026 or 2027.

BTC0.64%

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