Bitcoin Trades Above $94,000 Amid Rising Supply in Profit
- Bitcoin is trading above $94,000, recovering from a recent price correction.
- The current price is approximately 12.7% below its all-time high from January.
- The proportion of Bitcoin supply in profit has risen to over 85%, up from around 75% during the last correction.
- Historically, supply in profit levels above 90% have been linked to market euphoria phases.
- Leverage and RSI indicators suggest reduced market aggression compared to previous highs.
Bitcoin’s price recovery sees it trading above $94,000, with over 85% of the supply currently in profit. This marks a significant increase from recent lows and suggests potential for further market movements. However, leverage and RSI data indicate a shift towards less aggressive market behavior.
Source (2.6)https://www.newsbtc.com/bitcoin-news/bitcoin-supply-in-profit-rises-above-85-is-euphoria-setting-in/?rand=52377
