Analysis: Over Half of Bitcoin Holdings Are in Unrealized Loss, Historic Bear Market Bottom Indicator Triggered Again
BlockBeats news, June 4, according to Glassnode data, as Bitcoin once dropped to $61,300, the number of BTC in an unrealized loss state rose to about 10.5 million, surpassing the 9.8 million in profit for the first time and accounting for more than half of the circulating supply. This is the first time in the current cycle that loss-held positions have exceeded profitable ones.
Historical data shows that this indicator has only appeared during deep bear markets in the past, and has often corresponded with important market bottoms. Similar situations occurred during the bear markets of 2015, 2019, 2020, and 2022, though the duration ranged from one month to one year.
Meanwhile, Bitcoin's price touched the 200-week moving average at around $61,300, a position that has historically served as a key long-term support during previous bear markets. Analysts believe that if BTC falls below the $60,000 mark, the next significant support will be near the realized price of about $54,000, and Bitcoin has breached the realized price in all major past bear markets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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The second paragraph adds stock information, while the fifth, eighth, and ninth paragraphs provide additional details. Background information is supplemented in the sixth, seventh, tenth, and eleventh paragraphs. Reuters, October 8 – Pharmaceutical company Viatris (VTRS.O) will acquire Pacira BioSciences (PCRX.O) in an all-cash deal worth $1.65 billions, adding two non-opioid painkillers to its portfolio, the companies said on Thursday. Viatris will acquire Pacira at $36.50 per share, representing a 44.8% premium to the latest closing price. Pacira’s stock rose by 44% in premarket trading. Pacira’s non-opioid painkillers, Exparel and Zilretta, generated sales in 2025 of $575.1 millions and $116.6 millions respectively. Exparel is used to relieve acute pain after surgery, and Zilretta is used to treat pain associated with knee osteoarthritis. Viatris stated it expects to expand the reach of these products in selected target markets. Viatris CEO Scott Smith stated, “the addition of these medications creates a synergy with our rapid-acting meloxicam market opportunities, positioning us as a leader in non-opioid pain management.” The US Food and Drug Administration (FDA) is expected to make a decision by December 27 on the approval application for rapid-acting meloxicam for the treatment of moderate to severe acute pain. Viatris plans to finance the acquisition primarily with idle cash, and the remainder through short-term borrowing. The company noted the deal will have minimal impact on its total leverage ratio. In August, Viatris (link) raised its annual adjusted profit forecast, counting on strong brand drug sales and growth in the Chinese market. The pharmaceutical company had previously faced (link) production setbacks in its Indian operations, including a fire at its Nashik plant in western India and increased competition in the generic drug market, raising concerns about the resilience and growth of its core business. The company stated the transaction is expected to close by the end of 2026 and will immediately enhance Viatris’s financial guidance metrics. (For non-native English speakers, Reuters provides automated translations of its reports into several other languages. Since automated translations may contain errors or lack necessary context, Reuters does not guarantee their accuracy and provides them for convenience only. Reuters accepts no liability for any damage or loss caused by the use of automated translation.)
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