Bitcoin’s surge to $73k put 99.76% of entities in profit, signaling mature phase of bull market

Bitcoin’s surge past $72,000 pushed 99.76% of entities and 99.74% of addresses into profit — the highest level ever recorded.

In the ever-fluctuating world of Bitcoin, deciphering market sentiment is akin to reading tea leaves. Yet, advanced on-chain metrics offer a clearer vision, particularly the percentage of addresses and entities in profit—a harbinger of market moods. With a current astonishing 99.76% of entities and 99.74% of addresses smiling at their portfolios, we find ourselves at a historic zenith of profitability. Such levels often herald the mature phase of a bull cycle, but they carry with them the specter of impending corrections. Historical patterns have been instructive, showing us that this euphoria is typically short-lived. Yet, as we teeter on the brink of what could be an unprecedented period in Bitcoin’s journey, propelled by burgeoning institutional interest and the advent of spot Bitcoin ETFs, one wonders: Are we about to witness a deviation from past cycles, or will history repeat itself? Uncover the potential turning tide of Bitcoin’s market cycle and what it means for investors in the full article.

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