According to Glassnode's analysis, 73.6% of Bitcoin's circulating supply is now in profit, while the average BTC ETF holder is sitting on unusual gains. Typically, when this indicator is around 70%–75%, the market is in a constructive consolidation phase or experiencing moderate bullish momentum. It is neither at the extremes of absolute euphoria nor in deep capitulation territory below 50%.
With profits at a controlled level, a significant share of investors does not feel the urge or panic to sell and cut losses, which often helps stabilize the price. As for BTC ETF investors, this shows that a substantial portion of the institutional capital that flowed in during the preceding months either bought at strategic price levels or successfully weathered the volatility. $BTC
With profits at a controlled level, a significant share of investors does not feel the urge or panic to sell and cut losses, which often helps stabilize the price. As for BTC ETF investors, this shows that a substantial portion of the institutional capital that flowed in during the preceding months either bought at strategic price levels or successfully weathered the volatility. $BTC
