Sizing Up the Dip Trading at $110k, only ~9% of BTC supply is in loss, carrying up to 10% unrealized losses. In contrast, the local bottom of this cycle saw >25% of supply at up to 23% losses, and global bear markets have reached >50% supply with up to 78% losses. This dip remains relatively shallow. Chart here: https://glassno.de/4nepLKZ(glassnode)