91% of Bitcoin Supply Currently in Profit Amid Market Recovery

Bitcoin is attempting to breach the $95,000 resistance level, failing to do so since last Friday. Currently, 91% of Bitcoin supply is profitable, indicating a phase of market euphoria.

Market Recovery Insights

Analysts report that over 90% profitability typically signals the final phase of a bull market.
Profitability nearly fell to 75% during recent price drops, which could have led to widespread selling.
This recovery allows Bitcoin holders to be less pressured to sell during market uncertainties.

Diminished selling pressure may support Bitcoin's price stability around $95,000 and contribute to potential future gains.

Price Predictions

Standard Chartered forecasts Bitcoin could reach $120,000 by Q2 2025.
Other analysts predict prices between $200,000 and $250,000 by year-end.
Bitcoin is currently trading at $94,900, just below the significant $95,000 mark.

Caution Advised

Historical patterns show corrections often follow periods of market euphoria.
During past bull cycles, Bitcoin's profitability dropped to around 50% during corrections.
The current euphoria phase may last from three to 12 months before a potential correction occurs.

With 91% of Bitcoin holdings in profit, the market faces a critical juncture that will test bullish predictions against historical trends. Investors are closely monitoring the $95,000 resistance level for further developments.