Crypto
Bitcoin Profitable Supply Ratio Hits New High Amid Momentum Indicator Stall
CryptoQuant analyst Axel Adler Jr. reported that Bitcoin's profitable supply ratio reached a new high of 73.8% in late September, driven by a price rebound. This figure has since corrected to 72%, but remains below its long-term average of approximately 76%. The market has not yet shown signs of overheating.
The momentum indicator for Bitcoin's price is currently at zero, indicating a temporary halt in the upward drive. However, this does not confirm a downward reversal. Whether the momentum indicator breaks below zero and whether the profitable supply ratio exceeds 76% will determine future trends.