Bitcoin's supply in loss hits 10.46M BTC as MVRV drops to 1.1

Bitcoin's recent slide toward the $60,000-$62,000 range has pushed 10.46 million BTC into unrealized loss, with underwater supply exceeding coins in profit for the first time this cycle. The MVRV Ratio has fallen to 1.1, while long-term holders have reportedly shifted back to net accumulation, absorbing about 30,000-35,000 BTC over 30 days. The setup resembles prior cycle-bottom conditions, but a durable recovery still depends on sustained demand.