Profitable Supply Near Historical Mean: Bitcoin Price Analysis

The Bitcoin price analysis suggests that over 71% of its circulating supply is now in profit. This number has drawn attention as it nears the historical mean of 74.7%, according to Bitfinex, which has previously marked a transition from bear market to bull market.

The current recovery in Bitcoin's price shows promise, but the same price level also carries more profitable supply. As a result, there is an increased potential for sellers to emerge when the market tests previous local highs.

ETF inflows provide a counterbalance to this trend, with $31.07 million in daily net inflows into US spot Bitcoin ETFs and $698.42 million in seven-day inflows. This demand signal may help offset the selling pressure from profitable supply.