Bitcoin On-Chain Metric Triggers Cycle Bottom Signal

A key on-chain metric for Bitcoin has triggered, indicating that investors are realizing losses at a pace not seen earlier in the current correction. The UTXO Block Profit/Loss Count Ratio has risen, suggesting investor capitulation is underway.

This signal, which has marked every bitcoin cycle bottom since 2016, historically precedes market recoveries after major drawdowns. As more investors exit positions, the current phase may be the start of a broader capitulation process unfolding over extended periods.