The post 90% Of Bitcoin Supply In Profit – Could This Cycle Mirror The 2017 Bull Run? appeared on BitcoinEthereumNews.com.
Bitcoin is on the verge of a historic breakout, consolidating just below the highly anticipated $100K mark. After surging over 8% since the start of the year, the leading cryptocurrency has captured the attention of investors and analysts alike. While the market remains cautiously optimistic, all eyes are on BTC for confirmation of its next big move. Top analyst Axel Adler recently shared insightful data on X, revealing that 90% of the total Bitcoin supply is currently in profit. This key metric highlights the strength of BTC’s recent rally and underscores the widespread optimism in the market. Adler notes that such high levels of profitability typically align with bullish market conditions, fueling expectations for a breakout above $100K. The psychological and technical significance of the $100K mark cannot be overstated. A decisive move above this level could signal the start of a new phase in BTC’s bull cycle, inviting fresh capital and sparking renewed enthusiasm across the crypto space. However, as the price consolidates, investors are cautiously awaiting confirmation. Bitcoin Bull Cycle Looking Strong Despite the uncertainty and negative sentiment surrounding Bitcoin’s failure to break above the $100K mark, the current market cycle remains robust and bullish. BTC continues to hold key demand levels, reinforcing its bullish structure. Sideways consolidations, often misunderstood as stagnation, are critical for setting up large-scale moves, allowing the market to build momentum. Top analyst Axel Adler shared insightful data on X, highlighting the market’s resilience. Currently, 90% of the total Bitcoin supply is in profit, a strong indicator of market health. According to Adler, if the current cycle avoids “black swan” events—unpredictable and disruptive occurrences—the market could follow a trajectory similar to the 2017 bull cycle. During that period (depicted as “blue square #1”), Bitcoin demonstrated a bullish trend with minimal pullbacks, maintaining a metric…