Bitcoin$BTC enters the bullish zone
The share of BTC in profit shows the percentage of coin holders who purchased their assets at prices lower than the current market value. When this figure rises, it indicates broad investor confidence and significant capital investments in the asset.
In a new report, anonymous analyst CryptoQuant under the pseudonym Darkfost noted that more than 85% of the circulating supply of BTC is currently in profit. Although this is a bullish signal, it has its pitfalls.
Analysts point out that the market is currently experiencing a phase of euphoria. This occurs when the share in profit approaches or exceeds 90%. While such levels are considered bullish, they often coincide with local peaks.
