According to ChainCatcher, Cryptoquant analysts released a report saying that Bitcoin is currently in a key psychological turning point area, between optimism and pessimism. The sentiment of market participants mainly depends on whether they are profitable. As long as Bitcoin remains in this range, it is unlikely to fall sharply.

Historical data shows that maintaining stability in key areas is crucial to the continuation of the bull market. Specifically, the "profitable supply" indicator shows that when most of the supply is profitable, market sentiment tends to be more optimistic. Currently, the price of Bitcoin is testing this optimistic area. 📈

This analysis reminds us that market sentiment and price fluctuations are closely related, and investors need to remain calm and look at market changes rationally.