Bitcoin's Supply in Loss Breaks Above 50% on June 30, Signals Potential Cycle Bottom

BTC-1.16%
According to Bitfinex, on June 30, Bitcoin's supply in loss broke above 50%, a level it has since retreated below. Historically, this signal has been associated with market cycle bottoms since 2011. Based on past occurrences, the one-year median forward return following such a signal stands at 74%.
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