Bitcoin has entered a phase of loss, according to CryptoQuant., 2026/02/16 10:24:10

The profit ratio from Bitcoin sales (aSOPR) has fallen into the range of 0.92–0.94. This level has historically preceded significant phases of bear markets, according to analysts from CryptoQuant.

aSOPR indicates whether Bitcoins are being sold on average at a profit or a loss. A value below 1 signifies that market participants are realizing losses. The current decline mirrors the situations of 2019 and 2023, when a deep correction of the leading cryptocurrency occurred, accompanied by widespread coin sales. Presently, 42.85% of the total Bitcoin supply is in a loss position, as calculated by specialists.

“Repeated formations of lows in the range of 0.92–0.93 have historically acted as a marker for capitulation phases and structural market adjustments. The lack of a rebound to the level of 1, which we observed during intermediate corrections, is particularly concerning. The current downturn appears to be persistent, significantly increasing the risks of transitioning to a full-scale bear trend,” clarified CryptoQuant. 

Experts estimate that the situation does not resemble a temporary dip but rather a potential shift in the market cycle: if aSOPR cannot return to the 1 mark in the coming weeks, this will heighten the likelihood of entering a prolonged bear phase. A further decline in Bitcoin’s price will be necessary to facilitate a reversal. Such a scenario would allow for the complete exit of weak holders from the market and conclude the cycle of loss realization, creating conditions for future growth, analysts noted. 

However, according to CryptoQuant, a price reversal is not anticipated at this time: the sales level has not yet reached a critical threshold. Experts believe that the absolute bottom for Bitcoin will be reached at the level of $55,000.