Has Bitcoin found its cycle bottom?
According to Bitfinex analysts, a key on-chain indicator is flashing a potential bottoming signal: more than 50% of all BTC is currently being held at a loss.
Historically, since 2011, this metric has closely aligned with major cycle bottoms, as widespread unrealized losses often signal peak market capitulation and seller exhaustion.
While no indicator is perfect, crossing the 50% threshold has consistently marked attractive long-term accumulation zones in previous market cycles.
Will history repeat itself this time?
July 23, 2026 18.6K 1
