Bitcoin Profit Supply Nears Historic Threshold Amid Stable Market Conditions

Bitcoin's profit supply has surged to nearly 74.7%, a threshold that typically marks bear-to-bull transitions in the market, according to Bitfinex data.

The BTC price recovered near $78,600 on Tuesday after falling to $77,603, but remained below the $82,000 level reached last week.

Glassnode's analysis shows that long-term holder supply is a key driver of low volatility in Bitcoin, explaining one-month realized volatility better than market capitalization, open interest, funding rates, or trading activity.

The influx of ETFs has also contributed to the market's stability, with $31.07 million in daily and $698.42 million weekly inflows reported by Lookonchain.