OnChain College
BTC Supply in Loss %
Looking at the block level, we saw Bitcoin's Supply in Loss % hit 41.18% today. Currently, 35.5% of the supply is in loss after Bitcoin rallied from the day's low around $33k up to around $37k. If we look at the Summer '21 supply in loss peak, we see that supply in loss % reached 34% at the highest level. During deep bear market bottoms, this metric has historically crossed above 50%. Hard to use this metric to make predictions but it is interesting to see the peak of this drop higher than the Summer '21 drop. Do you think we've bottomed here or do you think Bitcoin will drop further?