According to TechFlow, on September 30, CryptoQuant analyst coinonni said that in the current bull market cycle, Bitcoin's profitable supply has remained above 80% most of the time.
Looking back at past cycles, Bitcoin's profitable supply has mostly remained above 80%. Although the indicator has been briefly pushed below 80% several times in recent summer, these moments often become buying opportunities. This phenomenon may indicate that despite some recent market adjustments, Bitcoin holders as a whole are still in a profitable state, which may provide support for the subsequent market trend.
