[Analysis] "Bitcoin supply profit ratio 92%…clear bull market"

JOON HYOUNG LEE

Summary

A CryptoQuant contributor said Bitcoin's Percent Supply in Profit reached 92%.
It was analyzed that in the past, a bull market often followed whenever this ratio exceeded 90%.
It said the current figure indicates the market is clearly in a bullish phase.

*Bitcoin (BTC) 'Percent Supply in Profit' trend. Photo provided by CryptoQuant*

Bitcoin (BTC) 'Percent Supply in Profit' has been shown to exceed 90%.

Crypto Avails, a CryptoQuant contributor, said through CryptoQuant on the 14th, "The Bitcoin supply profit ratio has reached 92%," adding, "This means there is considerable optimism and momentum in the market." The Percent Supply in Profit refers to the proportion of holders who are in profit relative to the Bitcoin supply.

Crypto Avails noted, "In the past, whenever this ratio exceeded 90%, a bull market often followed." Crypto Avails said, "(The Percent Supply in Profit) long-term average is about 75%," and "the current figure greatly exceeds the average, showing that most investors are in profit." He added, "When the ratio falls below 90%, adjustments often occurred," and analyzed, "The current figure can be seen as the market being clearly in a bullish phase."

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