The Bitcoin UTXO profit-loss ratio has entered a historically low range, signaling potential market bottoming, according to CryptoQuant analyst MorenoDV_. This ratio, which compares the number of UTXO blocks in profit versus loss, suggests a deeper market reset as profits narrow and losses widen. However, Moreno cautions that a confirmed bottom requires a more pronounced decline in the 365-day moving average to indicate a genuine long-term reset rather than a short-term oversold condition. Despite the current low ratio, Moreno warns that short squeezes and temporary rebounds may occur, particularly if leveraged shorts are overcrowded. These should not be mistaken for a structural recovery. The analysis concludes that while Bitcoin shows signs of insider capitulation, historical trends indicate the market may need to endure further pressure before the bear market concludes.