Bitcoin's Profit and Loss Ratio Plunges to Post-FTX Low Amid Market Stress

The Bitcoin realized profit and loss ratio has reached its lowest level since the FTX collapse in December 2022, dropping to -0.35 according to CryptoQuant.

This metric tracks the net share of Bitcoin held in profit or loss compared with total supply, and a negative reading indicates that losses are dominating realized market activity.

CryptoQuant notes that the indicator has reached similar levels before major recovery phases, including 2015 and 2019 when Bitcoin later rallied.

However, analysts caution that this does not confirm a price bottom, but rather shows that Bitcoin holders are realizing heavy losses across the market, which can often lead to added selling pressure.