Woofun AI data shows that the Bitcoin UTXO profit and loss ratio has entered a historically low range, indicating a deeper internal market cleanup.

However, the bottom signal remains unconfirmed as the 365-day moving average requires further decline to prove a full reset of the long-term profit structure.

Any brief rebound from a short squeeze should not be interpreted as structural recovery if the ratio fails to sustain reconstruction. Historical patterns suggest BTC may face additional pressure before fully exiting the current bear market phase.