CryptoQuant: BTC at a critical threshold on-chain, 90% of supply in profit.

Recall, this metric #CryptoQuant, Bitcoin Percent Supply In Profit, shows what portion of the supply was purchased below the current price. The long-term norm is around 75%. During bullish phases, the indicator often stays above 90% - this fuels rallies and euphoria. HOWEVER, falling below 90% in the past has often marked the start of corrections (from brief to prolonged). The actual bottom of bearish cycles for #BTC is usually formed when the indicator falls below 50%.

Currently, the indicator is at a key zone. Sustained holding above 90% will support the bullish scenario. A breakout downward will increase the risk of a corrective pullback towards the average values of 75–80%.