CryptoQuant: Bitcoin's profitable supply has exceeded 85%, and the market may adjust when it exceeds 90%

PANews reported on April 29th that CryptoQuant analyst Darkfost pointed out that the profitable supply in the Bitcoin market has exceeded 85%, approaching the historical excitement level of 90%. This ratio currently typically suggests that the market may be in a bullish phase. During the recent market adjustment, the profitable supply had dropped to around 75%, close to a critical level, and a further decline could lead to more investors choosing to take profits or market panic. In past bear markets, the profitable supply had dropped as low as 45-50%. Historical data shows that when the profitable supply exceeds 90%, the market usually enters a brief period of excitement, but may subsequently experience a correction. We are currently approaching this critical level.