THE BITCOIN LOSS/PROFIT RATIO IS HITTING EXTREME LEVELS. UTXOs in loss becoming increasingly significant. These readings only appear during periods of strong market stress. Bear market territory on this specific metric. But here is the important context. This indicator strips out price distortion entirely. It simply counts UTXOs in profit versus loss. A constant specific to Bitcoin behavior. And at these extreme loss ratios long term accumulation opportunities have historically been exceptional. The pain is real. The signal is equally real. But watch what happens when euphoria eventually takes over. When UTXOs in profit send this ratio sharply higher... That is when the music stops. Right now we are nowhere near that moment. Which means the accumulation window remains open.