CryptoQuant: Bitcoin's profitable supply has exceeded 85%, and the market may adjust when it exceeds 90%
On April 29th, CryptoQuant analyst Darkfost pointed out that the profitable supply in the Bitcoin market has exceeded 85%, approaching the historical excitement level of 90%. This ratio typically indicates that the market may be in a bullish phase. During the recent market correction, the profitable supply dropped to around 75%, close to a key level. Further declines could lead to more investors choosing to take profits or panic in the market. During past bear markets, the lowest profitable supply dropped to 45-50%. Historical data shows that when the profitable supply exceeds 90%, the market usually enters a brief period of excitement, but adjustments may follow. We are currently approaching this key level.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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