BlockBeats News, April 3rd, according to CryptoQuant analyst Darkfost, the current Bitcoin profit supply is around 11.2 million coins, while the loss supply is around 8.2 million coins, approaching the typical level of a bear market. Compared to the bear market low point in 2022, the profit supply was 9 million coins, and the loss supply was around 10.6 million coins. The analyst believes that this indicates the market is entering a significant undervalued state, and the bottom may be near.
However, Bitrue exchange’s research director Andri Fauzan Adziima believes that the data reflects “rising market pressure rather than immediate undervaluation,” and that a true bottom would require a deeper level of loss (e.g., loss supply exceeding 50% as a percentage of total circulating supply, and profit supply dropping below 45%). The current Bitcoin drop from its all-time high is around 52%, much lower than the 77%-84% drop seen in previous bear markets.
Furthermore, analyst Timothy Peterson pointed out that the strength of the U.S. dollar (the U.S. Dollar Index has risen about 5% in two months) and the weakness of the Chinese yuan have limited Bitcoin’s rebound, and he expects the attractiveness of the U.S. dollar to diminish only in the second half of 2026 or 2027.
