Analysis: The profit and loss supply of Bitcoin has reached a typical level for a bear market, with approximately 8.2 million BTC in a state of loss

CryptoQuant analyst Darkfost stated that the profit and loss supply of Bitcoin has reached a typical level for a bear market. Currently, about 11.2 million Bitcoins are still in profit relative to their purchase price. This is not far from the lowest level of profitable Bitcoins during the last bear market (9 million).

On the other hand, approximately 8.2 million Bitcoins are currently in a loss state, while the number of loss Bitcoins during the last bear market was about 10.6 million. This indicates that the market is significantly undervalued, similar to the situation during the last bear market.