Decoding PSIP: Unlocking Bitcoin Market Sentiment Clues

The Percent Supply in Profit (PSIP) is a crucial on-chain metric used to gauge the Bitcoin ($BTC) market sentiment. Developed by BlockBeats, this indicator quantifies the proportion of circulating Bitcoin holdings currently making a profit based on comparing current prices to their last transfer price. When the current price exceeds the last transfer price, the Bitcoin is deemed profitable.