The current Supply in Profit for BTC stands at 92.95% as of February 25, 2024, indicating that nearly 93% of all moved BTC (bought or sold) in the past year are in profit, as they were purchased at a price lower than the current market value.

Comparing this to the previous cycle, we observed that when the share of profitable supply reached 96%, profit-taking and a macro correction occurred, followed by a bull rally phase. If BTC continues to follow historical trends, we can anticipate a further increase in price and the share of profitable supply to surpass 96%. Subsequently, investors may take profits, leading to a price correction before the 2024 bull rally commences.

In the near future, the price could potentially rise to 55-60K or even form a new all-time high (ATH), followed by a market correction and the beginning of a bull rally. Stay updated on the Bitcoin market by following my daily macro reports on Twitter @AxelAdlerJr.