Bitcoin’s realized profit‑and‑loss ratio has dipped to –0.35, a figure that hasn’t been seen in more than three years. The drop, which coincides with the FTX collapse, is being flagged by Cryptoquant as a “bottom signal.” For everyday traders, this means that the market’s long‑term bearish bias may be reaching a low point, potentially setting the stage for a rebound. The signal is not a guarantee of an immediate price jump, but it does suggest that the market has exhausted much of its downside.
At the same time, the big‑name strategy of Michael Saylor is shifting from a buyer to a seller, with a planned dump of 3,588 BTC. Large‑scale sell orders can add pressure to the price, especially when the market is already in a fear state (the fear‑greed index sits at 27). Retail investors should therefore keep an eye on how quickly Saylor’s liquidation unfolds and whether it triggers a short‑term pullback before the broader market can recover.
Bitcoin is currently trading just above $63,000, up about 0.9% over the last 24 hours. That modest gain, coupled with the low fear‑greed reading, indicates that sentiment is still cautious. A potential upside could materialise if the bottom signal holds and institutional buying resumes, but any rally will likely be tempered by ongoing sell‑pressure from large holders and the broader macro environment. Watching key support levels around $63,000 and monitoring the pace of Saylor’s sell‑off will be crucial for retail traders looking to time their entries or exits.