CryptoQuant: The current cycle of Bitcoin profitable supply remains high, which may indicate a continued bull market

ChainCatcher message, CryptoQuant analyst coinonni stated that during the current bull market cycle, Bitcoin's profitable supply has remained above 80% most of the time. Looking back at past cycles, Bitcoin's profitable supply mostly stayed above 80%.

Although this indicator was briefly pushed below 80% several times in the recent summer, these moments often became buying opportunities. This phenomenon may indicate that despite some adjustments in the recent market, overall Bitcoin holders are still profitable, which could provide support for subsequent market trends.