According to Glassnode data, Bitcoin's realized profit and loss ratio has fallen below 1 for the first time since 2022, which typically indicates a prolonged six-month period of excess losses before a recovery. However, monthly performance data suggest that Bitcoin's potential recovery could begin as early as April, which differs from the longer expected timeline. Analysts also emphasize that the $60,000 price level is a key threshold for determining Bitcoin's future trajectory in the coming months.