Bitcoin aims for $200,000 as profit indicators enter a zone of 'cautious optimism'
Bitcoin's high profitability points to a possible short-term correction amid rising forecasts that the price of BTC will reach $200,000 by the end of 2025.
Bitcoin aims for $200,000 as profit indicators enter a zone of 'cautious optimism'
Market Analysis
Key Points:
The 98% of Bitcoin supply in profit indicates bullish sentiment but warns of volatility and possible price corrections.
Analysts predict that BTC could reach $200,000 in 2025, but the key is for demand to remain strong.
Predictions that the price of Bitcoin
BTC
€92,803
will reach $200,000 by the end of 2025 are becoming increasingly common, as the rise in profitability not only indicates growing optimism but also the risk of a short-term correction.
The supply of Bitcoin in profit skyrockets to 98%
The supply of BTC in profit increased significantly, rising from 87% to 98% between June 22 and Sunday, according to data from blockchain Glassnode. As of Tuesday, around 96.7% of all Bitcoins were in profit, sitting above the upper band, as shown in the following chart.
Historically, such high levels cause volatility in the market, as the potential for profit-taking increases, reflecting optimism amid caution over price corrections.
Between January and April, for example, the price of BTC fell from about $109,000 to $74,000, a drop preceded by an increase in the profitable supply of Bitcoin to 98.8% on January 21.
