According to CryptoQuant, Bitcoin's price decline has caused on-chain realized profit metrics to turn negative. This marks the first time since 2023 that Bitcoin profitability has reached this level. The last time profitability was this low was before the previous bear market, according to reports. The development suggests a shift in market dynamics for Bitcoin, as profitability is a key indicator of investor sentiment and market health.

According to CryptoQuant, Bitcoin's price decline has caused on-chain realized profit metrics to turn negative. This marks the first time since 2023 that Bitcoin profitability has reached this level. The last time profitability was this low was before the previous bear market, according to reports. The development suggests a shift in market dynamics for Bitcoin, as profitability is a key indicator of investor sentiment and market health.