Bitcoin Profit Supply Nears Historical Threshold, Potential Market Correction Looms

A recent surge in Bitcoin’s profitability has raised concerns about a potential market correction. According to on-chain analyst Ted Pillows, 99.3% of the circulating Bitcoin supply is currently in profit, surpassing historical averages. This significant level of profit, which has been observed in instances where Bitcoin saw corrections ranging from 3%-10%, sparks speculation regarding upcoming price movements.