Bitcoin News
By Pankaj K
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Matt Hougan and the Case for a Bottom. Matt Hougan, Chief Investment Officer at Bitwise, thinks the market may be nearing a bottom.
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Why the Profitability Ratio Matters Right Now. The profit and loss ratio isn't just a vanity metric.
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Where the Market Stands and What Investors Are Doing. The split in investor behavior right now is pretty sharp.
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Bitcoin's profit and loss ratio just hit its lowest point in 43 months. That's a big number — and it's rattling the market in ways that are hard to ignore.
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The metric, which tracks the ratio of total profits to losses across the network, basically tells you how many coin holders are sitting on gains versus losses at any given moment.
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An analyst from Swan Bitcoin is making a similar case, though with a more direct edge. The recommendation from Swan's side: buy now.
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Not everyone agrees. A chunk of the investor base is sitting on their hands, watching, waiting for something more definitive before committing fresh capital.
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The profit and loss ratio isn't just a vanity metric. When it drops this sharply — to levels not seen in over three years — it tends to reshape how market participants behave.
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Crypto doesn't exist in a vacuum. Regulatory developments, interest rate environments, broader risk-asset sentiment — all of it feeds into Bitcoin valuations.
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More context: US Bitcoin ATM Count Drops 96% of Global Losses in First Half of 2026
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Trading volumes are worth watching here too. A very low profitability ratio can sometimes act as a trigger for increased market activity — either capitulation selling from…
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The split in investor behavior right now is pretty sharp. On one side, you've got the Hougan camp and the Swan Bitcoin camp — people who think the current environment is a buying…
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Both camps can point to history to back themselves up. Bitcoin has recovered from ugly profitability readings before, sometimes sharply.
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What's probably true is that risk appetite varies enormously right now depending on who you are. Long-term holders with low cost bases can afford to be patient or even add.
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Read also: Tim Draper Denies Moving 1,000 Bitcoin to Coinbase Prime Despite Analyst Claims
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