In the blockchain industry, the Supply in Profit indicator, which represents the percentage of the circulating supply of BTC in profit, is a key tool for market analysis. When BTC price surpasses its previous all-time high, this indicator approaches nearly 100%, indicating a bull market.

To provide a benchmark, the ultra-long-term moving average (1,500 DMA) and ±1 standard deviation (SD) were used. A cycle period of approximately four years was set, in line with BTC's halving cycle. If the Supply in Profit exceeds the +1 SD band, it's interpreted as a major bull market.

Interestingly, each major bull market has been preceded by a brief period where the indicator surpassed the +1 SD band. This pattern has been observed in the current cycle. The last two cycles saw bullish trends lasting 300-600 days. If the current cycle follows suit, we can expect the upward momentum to continue for at least another three months.

With both BTC and ETH spot ETFs now approved and capital continuing to flow in, this optimistic outlook isn't mere speculation.