#$BTC BTC's in-profit supply rate is the ratio of the sum of the in-profit UTXO value to the total UTXO value. In simple terms, it is the proportion of BTC holders who have unrealized profits.

This rate is often used as one of the indicators to determine the peaks and bottoms in the long-term cycle, and the current rate is very high at 94.98% (Pink circle).

The current rate is the same as the rate recorded at the peak of the echo bubble in 2019, the beginning of the bull market in 2020 (Blue circles).

And only three other times has the rate been higher: the rally to the 2017 high, the rally to the 2021 high, and the 2021 all-time high (yellow circles).

Of course, aggressive investments by institutional investors this year could keep the rate as high as in 2017 and 2021.

However, I believe that aggressive investments should be avoided as there may be price declines along the way.

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