Published 8 Jun 2026, 11:00 UTC · fetched 3 Nov 2026, 10:58 UTC
Merlijn The Trader
@MerlijnTrader
FOR THE FIRST TIME THIS CYCLE, MORE THAN HALF OF ALL BITCOIN IS UNDERWATER. 🇺🇸 Roughly 53% of circulating supply now sits at a loss. Loss has overtaken profit for the first time since the last bear market. This exact crossover flashed in 2019, March 2020, and 2022. Every time, near a major cycle bottom. But history adds a warning: The signal marks the zone, not the day. In 2020 it lasted a month. In 2022, almost 6 months. This is the kind of moment that rewards attention, not haste. The opportunity is real. So is the patience it demands.View original on X ↗
Deterministic: the same prices and policy always give the same result
unscored Awaiting manual review
Only the end-of-horizon price counts. A brief move followed by a reversal is not a success. Read the methodology
Uses only text available at publication time
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