👍👍Bitcoin Investors on Alert: Critical Level Reached, Is a Big Move Coming? 👍👍

An analyst at the on-chain analysis platform CryptoQuant warned investors to be careful about technical signals for Bitcoin.

According to the data shared by the analyst, we have entered a difficult period in analyzing Bitcoin's price movements. In addition to technical analysis tools, on-chain data also plays a critical role in evaluating the market's supply-demand balance, investor sentiment and general dynamics.

Recently, the decreases in Bitcoin's "Profitable Supply" data and increases in liquidity accumulation offer important clues about the future of the market.

Supply in Profit: Changes in Bitcoin’s Profit Rates

The “Supply in Profit” metric is an important on-chain indicator that shows how much of the current Bitcoin supply is in profit relative to the current price.

When the Bitcoin price exceeds investors’ purchase prices, the supply in profit increases, indicating that investors are in profit. However, due to the recent price decline, there has been a significant decrease in the supply in profit.

This indicates that many investors in the market are losing money; it also shows that those who are in profit are stabilizing the market by reducing selling pressure.

While the decrease in the supply in profit reveals that a large number of investors are in the loss zone, it can also signal a potential recovery opportunity.

Bitcoin, which has increased by 1% in the last 24 hours, is trading at $63,235 at the time of writing.

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