Approximately 28% of Bitcoin's circulating supply is currently held at a loss, suggesting increased stress for investors who bought at higher prices. Analysts interpret this as a potential market bottom, as historical trends often show recovery phases following such conditions. On-chain data supports this view, with Bitcoin's Net Taker Volume recently hitting -53 million hourly, indicating possible seller exhaustion. Experts remain cautiously optimistic about a rebound, contingent on the $100,000 support level holding and trading volumes improving.