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https://t.co/dFhUB9oHUjbitview.space on-chainJoined September 2026
Even though bitcoin:native has recovered well since its low of around $58 000 in June, capital in loss still dominates trading.
That said, the gap has narrowed significantly, and we can see a pattern that tends to appear in every correction.
Today, capital in loss is estimated at $633 billion, versus $449 billion in capital in profit.
Coming out of the last bear market, it took almost a year from the bottom for capital in profit to settle durably above capital in loss.
It's a phase in which the market shows some inertia before it manages to build a more decisive momentum.
Chart Link : studio.bitview.space/#chart=hczBCsI…
Bitview Signal indicates that Bitcoin has now entered an Early Bull phase after going through a bear market lasting nearly a year.
It is a metric built on an aggregate of indicators and signals, which are then mapped to fairly precise market phases, so you can see at a glance what is happening in the market.
Today, the smart DCA signal is still largely active, even though the best opportunities seem to have passed.
bitcoin:native continues to trade above the STH cost basis, i.e. the cost basis of holders who have held BTC for less than 150 days.
It is currently estimated at around $74 400 and is an interesting level where STHs could step in on the market if BTC were to come back and test their conviction. We can also see that it keeps rising: in mid-August it was at $67 000, a sign that STHs are accumulating as Bitcoin climbs.
On the other hand, the cost basis of STHs who are currently at a loss is $84 000, while the cost basis of STHs in profit is estimated at $70 500.
There is therefore a significant disparity among STHs, implying both realized profits and realized losses.
Chart Link : bitview.space/charts/distrib…
Since August 19, realized profits have dominated bitcoin:native
The net 24h sum has stayed positive almost the entire time, with positive swings that at times exceeded $2B.
That seems sizable, but it is far from the peaks seen during this cycle, some of which exceeded $10B, again on a 24h basis only.
Today, profits still dominate but are significantly reduced, at $156 million in total. There is therefore nothing alarming in the profit-taking we are witnessing.
Chart Link : studio.bitview.space/#chart=TY7BCoJ…
Bitview Studio, in one minute.
Every chart in this video was made with it: search any on-chain series, write formulas, color anything by anything, stack, draw, measure, and share any chart as a link.
Right in your browser, no account.
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Miner activity has improved in recent weeks.
Hashrate has just moved back above 1 ZH/s after falling below 900 EH/s and below its annual average.
Hashrate per difficulty is still hovering around 950 EH/s.
This signals that miner activity is doing better and that the difficulty adjustment has allowed them to resume normal operations, which removes economic pressure that could push them to sell their BTC reserves.
Chart Link : bitview.space/c5f15111-9964-…
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