Cryptoquant: Bitcoin is approaching a key psychological turning point, between optimism and pessimism

ChainCatcher message, Cryptoquant analysts released a report stating that based on historical data, the price of Bitcoin is currently in a key psychological turning point, situated between optimism and pessimism. Market participants form optimistic or pessimistic views based on whether they are in profit; as long as Bitcoin remains within this range, it indicates that a significant drop is unlikely.

Historical data shows that maintaining stability in key areas is crucial for the continuation of a bull market. Specifically, the "profit supply" indicator, which reflects periods of investor profitability, suggests that when a large portion of the supply is in profit, optimistic sentiment tends to rise. The current price level of Bitcoin is testing this optimistic zone.