Woofun AI data shows that 10.83 million BTC are currently underwater, representing 54% of the measured supply, compared to 9.22 million BTC in profit. This marks a shift where loss-making coins exceed profitable ones by 1.61 million BTC.

Woofun AI reports that long-term holders have reversed their distribution phase and begun rebuilding positions, absorbing supply from ETF investors.

Meanwhile, Hyperliquid traders maintain a long bias at the highest tracked level, and the 14-day put-to-call volume ratio has climbed above 1.0.