Svmuu News: CryptoQuant analyst Darkfost points out that the Bitcoins market is reaching a critical pain threshold for holders, with the number of loss-making UTXOs continuing to rise and the loss-to-profit ratio reaching extreme levels in terms of holdings at a loss. Such levels typically only occur during periods of strong market pressure, such as bear markets.This metric measures market conditions by comparing the number of profitable and loss-making UTXOs and is not affected by price volatility. Darkfost believes that the current scale of losses is expanding, presenting accumulation opportunities for long-term investors. At the same time, a period of optimism—when profitable UTXOs significantly drive up the ratio—could signal a market turnaround.