Crypto
Bitcoin supply profitability drops below 50 percent, seen as echoing early bull market phases
Bitcoin’s total supply profitability indicator has fallen below 50 percent, prompting analysis that the market resembles the start of past bull runs. Similar readings in 2020 and 2023 were followed by large rallies, but the metric alone cannot confirm a bottom. Long-term holders remain in profit, and corporate and spot ETF holdings account for about 15.8 percent of circulating supply. Short-term holder inflows to Binance have also declined, while other valuation indicators still point to possible further downside.
