Bitfinex: Bitcoin Supply in Profit Hits 71.3%, Bull Market Threshold Approaches

Bitcoin's supply in profit has reached 71.3%, according to recent analysis from Bitfinex. This metric is significant because, historically, it must remain above 75% for a bear market recovery to transition into a new bull market. To sustain this bullish momentum, reclaiming the $85,000 mark is crucial.

The broader cryptocurrency market is currently experiencing mixed signals, with various assets showing differing momentum. Bitfinex's recent analysis sheds light on Bitcoin's supply dynamics, suggesting that a significant portion of holders are currently in profit. This insight could influence market sentiment as traders assess the potential for upward price movement.