Bitcoin’s next euphoria phase is coming as BTC holders celebrate profit growth supply
Since the crypto market turns to positive territory BitcoinDuring this period, the largest digital assets have maintained a bullish stance, which has sparked hope for a sustained bull market phase. With the upward trend of the update, several factors in the BTC market dynamics are beginning to see positive results, such as overall profit supply.
Market euphoria, Bitcoin profitability improves
As bullish momentum is established, Bitcoin continues to attract market attention. With BTC’s price-maintaining performance upward, Kyle Doops is a chain expert and host of the crypto show. Overview Its market dynamics have changed significantly.
Specifically, Kyle Doops reported that along with the recent price rally, the percentage of BTC’s overall supply increased, a classic pioneer in increased investor excitement. Historically, momentum has accelerated when most people’s prices often reach parabolic territory Bitcoin holders Sitting on the profits.
Data shows that the percentage of profit supply rebounded to 87.3% from March lows as BTC pushed higher to $94,300. It is worth noting that last time BTC was sold for about $94,000, and 82.7% of the overall supply was profitable.
This means that at lower price levels, almost 5% of the supply has changed, which clearly shows signs of accumulation. Continue to rise BTC’s profitability In the coming days, demand for flagship assets among retail and institutional investors may be stimulated, strengthening the current uptrend.
Since most holders tend to be parabolic when they make a profit, Bitcoin may be doing Explosive gatherings. With emotions rising and profitability soaring, Kyle Doops is confident that if history is to be believed, sustained profitability exceeding 90% could trigger the “next real euphoria phase.”
A wave of first and momentum BTC buyers
During this period, GlassNode is a leading financial and link data platform that already has Highlight Even interest in profits will weaken Price of BTC growing up. After examining the cumulative supply for each queue, GlassNode revealed that first buyers and power buyers continue to show high levels of engagement, while Profiter‘The participation is still mild.
According to Chain Chain Platform, this is encouraging because it shows the ongoing demand of new traders and trend followers without putting a lot of pressure on distribution. The strong belief in these cohorts further supports the persistence of recent gatherings.
This shift in investor behavior suggests growing beliefs about further upward potential. Investors show bullish sentiment when prices rise. BTC market trends A stable and steady rise may be being prepared.
At the time of writing, Bitcoin was trading at $94,903, up more than 8% over the past week. Investors have been betting heavily on sustained price appreciation, with trading volumes rising nearly 76% over the past day.
Featured images from Pixabay, charts from TradingView.com
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