Bitcoin P&L Ratio Hits 43-Month Low: Is the Bottom In?
Bitcoin's profit-and-loss ratio has collapsed to its lowest point in nearly four years, sparking bold bottom calls from top analysts.
Bitcoin's P&L ratio just cratered to a 43-month low. That means a historically large chunk of the market is sitting underwater — and that kind of pain usually doesn't last forever.
Bitwise CIO Matt Hougan isn't sugarcoating it, but he's also not running. He says the bottom is "closer than ever." That's a conviction call from someone who manages serious money, not a random X post.
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A Swan Bitcoin analyst is making it even simpler: buy the discount now or pay more later. That's the trade. You either act when it hurts or you chase when it feels good. History tends to reward the former.
A 43-month low on the P&L ratio puts you back near capitulation territory not seen since early 2022 — the kind of levels that, in hindsight, look like obvious entry points. Nobody rings a bell at the bottom, but data like this is about as close as you get to a flashing signal.
None of this guarantees a reversal tomorrow. But if you've been waiting for a "good" time to size in, the data suggests this moment is statistically more interesting than most. Ignore it at your own risk. Continue reading at Cointelegraph.
