🤔 $BTC Analyst C.Q.: Compared to past cycles, it appears there are still at least two more months remaining in the major bull market phase.

✒️The Supply in Profit indicator represents the percentage of the circulating supply of BTC that is in a profitable position. This analysis incorporates the long-term moving average (1,500 DMA) along with ±1 standard deviation (SD). The cycle period is approximately set to 4 years. The +1 SD is formed in the 85-95% range. If the Supply in Profit surpasses the +1 SD band, it is interpreted as being in a major bull market.

However, the indicator does not consistently stay above 90% even during bull markets. In the 2017 bull market, there were significant 🔴deep corrections observed. The three corrections when the Supply in Profit approached the 1,500 DMA were approximate -33.4%, -39.6%, and -40%. Similarly, in the 2021 bull market, there was a deep drop of -31% just before reaching the peak. During these deep corrections, the Supply in Profit was observed to find support around the 🟢+0.4 SD of the 1,500 DMA.
In the current cycle, a -23.4% correction occurred in early May, testing the +0.4 SD of the indicator. Additionally, in the past two weeks, there has been another -16% correction, bringing the indicator close to this level once again.