Bitcoin Defies Correction as 75% of Supply Enters Profit Zone

Bitcoin is currently holding strong above $64K as over 75% of its supply has entered into profit territory, according to @bitfinex. This milestone marks a crucial threshold that influences trader sentiment.

This development suggests that the current rally may be an important signal for the market, indicating potential stability in upcoming corrections. Historically, maintaining profit levels for most holders has led to reduced volatility and a more stable recovery phase.

As Bitcoin tests critical resistance at the $64K to $65K range, traders are closely monitoring how this affects market sentiment. With sellers defending this range, Bitcoin's next moves will be pivotal in determining overall market trends.