Apr 17, 2025
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Bitcoin Supply in Profit Remains Above 70% in Current Cycle
On-chain data indicates that the Bitcoin Supply in Profit remains above 70% during the current cycle, which could be a positive sign for BTC.
Key Points
- The Bitcoin Supply in Profit tracks the percentage of BTC held at an unrealized profit.
- This metric reflects transaction history to determine the cost basis for each coin.
- The Supply in Profit has not dropped below 70% in the current cycle; previously, falling below this level indicated the start of a bear market.
- Bitcoin's closest dip was during last year's consolidation phase; it has previously fallen below 80%, but is currently close to retesting this line.
- Analyst predicts that pushing the Supply in Profit back to 80% could indicate strong bullish momentum.
BTC Price Update
Bitcoin's price has retraced to $83,900 after recent recovery efforts.
