CryptoQuant: The current cycle's Bitcoin profitable supply remains high, which may indicate the continuation of a bull market

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

Although there were brief instances this summer when the indicator dipped below 80%, these moments often became buying opportunities. This phenomenon may indicate that despite some recent market adjustments, Bitcoin holders are still in a profitable position overall, which could provide support for the market's subsequent trends.