After BTC recovered from $80K to $90K, UTxO Loss Supply declined from 7.5M to 6.1M BTC.
It is important to understand: this does not mean new capital entered the market and bought the bottom. The decline in Loss Supply here is a mark-to-market effect, not the result of on-chain activity. Each UTxO has a creation price.
When the market price rises above that level, the UTxO is automatically reclassified from Loss to Profit - without a single on-chain transaction. In other words, ~1.4M BTC simply moved out of loss on paper due to the price increase.
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After BTC recovered from $80K to $90K, UTxO Loss Supply declined from 7.5M to 6.1M BTC.
It is important to understand: this does not mean new capital entered the market and bought the bottom. The decline in Loss Supply here is a mark-to-market effect, not the result of on-chain activity. Each UTxO has a creation price.
When the market price rises above that level, the UTxO is automatically reclassified from Loss to Profit - without a single on-chain transaction.
In other words, ~1.4M BTC simply moved out of loss on paper due to the price increase.