


The price of Bitcoin (BTC) has once again entered a critical stress area reminiscent of the sharp decline process in 2022. This process has drawn the attention of investors, while CryptoQuant analysts have revealed striking similarities based on on-chain data for Bitcoin.
According to the analyst, the ratio of Bitcoin supply at a loss, known as UTXOs in Loss (%), has risen again to between 27% and 30%. This level has historically stood out not only as a simple decline signal but also as a decision area that determines the market's direction. In the shared analyses, it was emphasized that this range bears a high similarity to the price structure during May 2022. During that period, the Bitcoin price came under strong psychological pressure as a significant portion of investors transitioned from profit to loss.
However, the main determining factor was how this critical area concluded. According to the CryptoQuant analyst, the 27–30% band serves as a threshold indicating how much stress the market can absorb. If this ratio rises above 30% and remains persistent, then the supply at a loss will continue to increase. This situation can generally pave the way for a deeper pullback. On the other hand, if this metric hovers in this range and then pulls back, signals emerge suggesting that selling pressure has largely diminished.
Historical data indicates that the tendency for Bitcoin prices to recover may strengthen following this scenario. The CryptoQuant analyst describes the current situation not as a panic process but as a test of how much fear has already been priced in the market. Therefore, the current level signifies a critical period for direction determination in the Bitcoin price.
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