Analysis: The level of on-chain losses for Bitcoin is approaching the levels seen at the end of the last bear market

CryptoQuant analyst Darkfost stated that the market is approaching the level of loss supply seen during the last bear market. Currently, over 9.5 million bitcoins are in a state of loss, while about 10.4 million bitcoins remain in profit. Darkfost also pointed out that the market is about to reach a situation where the number of bitcoins in loss is roughly equal to those in profit, a scenario that last occurred at the end of the bear market in 2022. It is noteworthy that this adjustment is quite significant, with the supply of loss-held bitcoins rapidly increasing.