[Analysis] "90% of Bitcoin Holdings in Profit Zone… Overheating Signal and Correction Warning"

An analysis says the market has reached a historical turning point as 90% of Bitcoin (BTC) holdings have entered the profit zone.

On the 28th (local time), CryptoQuant author Darkfost said, "The proportion of Bitcoin holdings in the profit zone has reached a historically significant level. That a large portion of holdings are in profit is a necessary condition for the market to continue its uptrend and for investor enthusiasm to form."

According to the author, especially in bull markets, it was common for over 90% to enter profit, whereas when the profit-zone ratio fell below 90%, cases of short-term or medium-to-long-term corrections starting were frequently observed.

The author emphasized, "Currently 90% of Bitcoin holders are in profit. This both supports the heat of a bull market and can be read as an overheating signal. It is a point at which one should be wary of the possibility of a correction."