Summary
- It has been analyzed that about 86.8% of the current Bitcoin supply is in profit.
- The increase in supply that is in profit is reported as a positive signal that can accelerate Bitcoin's bull market.
- It was revealed that when the Bitcoin supply profit fell below 75% in the past, it could trigger a bear market due to profit-taking.
It has been revealed that nearly 90% of the Bitcoin (BTC) supply is recording profits.
On the 29th (KST), a Darkpost CryptoQuant contributor analyzed in a report that "currently, 86.8% of Bitcoin's supply is in profit."
Regarding this, the Darkpost contributor explained, "While some view the large portion of supply in profit as a sign of overheating, it is a positive indicator in a bull market," and added, "The increase in Bitcoin supply in profit accelerates the bullish phase."
He continued, "During the last adjustment period, this indicator fell to the 75% level, which I believe contributed to market normalization," and added, "If the supply profit falls below 75%, it could trigger profit-taking, leading to a bear market."
Meanwhile, as of 10:29 PM on this day, Bitcoin is recording $95,043, up 2.10% from the previous day according to CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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