For the first time in the current cycle, more Bitcoin is held at a loss than at a profit, according to Glassnode data. Approximately 10.83 million BTC are held at a loss, compared to 9.22 million BTC still in profit. This shift reflects the significant correction from Bitcoin's January peak of $109,000, with the cryptocurrency currently trading at $61,361, down 44% from its all-time high. Historically, such crossovers have coincided with periods of financial stress and capitulation among newer investors, often leading to a transfer of coins from weaker to stronger hands. Despite the decline in profitability, long-term holders continue to accumulate, with rising wallet balances across various size brackets. Meanwhile, Ether rose 4.2% to $1,702, and Solana surged 18.6% to $80.44, with trading volumes exceeding $3.6 billion. The potential for a market bottom remains uncertain, contingent on factors like ETF flows and macroeconomic conditions.