Bitcoin's Profitable Supply Nears Critical Threshold

CryptoQuant has released on-chain data indicating that Bitcoin's percentage of supply in profit is nearing the critical 45% threshold.

This level has historically been observed during periods of rising market stress and capitulation sentiment, whereas near bull market peaks, the metric typically rises above 90%. The current trend suggests a shift from unrealized profit to loss for more Bitcoin holdings, indicating that the market is closer to a deep expectation reset than an overheated sentiment phase.