Analysis: The profit and loss ratio indicator for Bitcoin holdings has crossed, cycle bottoms can now be watched closely

Foresight News reported that crypto analyst Benjamin Cowen tweeted that the on-chain indicator "Ratio of Supply in Profit and Loss" for Bitcoin has recently crossed. According to historical patterns, one should start looking for the market cycle bottom after, rather than before, this indicator crosses. This signal is of significant reference value for determining market direction during the mid-years of a halving cycle.