On-chain data aggregator CryptoQuant has published a chart with an important Bitcoin metric showing a significant rise. This metric is the Bitcoin Supply in Profit, and the report by a company’s analyst reveals that “an increase in the supply in profit tends to fuel bullish phases.”
This report came out while Bitcoin is striving to regain the $95,000 level briefly reached, and then quickly lost on Monday.
Bitcoin Supply in Profit nearing 90% level
Bitcoin Supply in Profit refers to the part of the circulating BTC supply that is currently worth more than when it was bought or last moved. CryptoQuant cited one of its analysts, Darkfost, who provided the chart, showing that the aforementioned metric is coming close to the 90% level.
Bitcoin Supply in Profit Approaching a Historic Euphoria Threshold
“Historically, when the supply in profit surpassed the 90% threshold, it consistently triggered euphoric phases, and we are now approaching that level” – By @Darkfost_Coc pic.twitter.com/FpbvsOxXsY
— CryptoQuant.com (@cryptoquant_com) April 29, 2025
The analyst said that historically when the supply in profit exceeds 90%, “it consistently triggered euphoric phases.” The market is currently approaching that level, he added.
A tweet published on the analyst’s personal X page explains a little more about this. First of all, it underscores bullish prospects shown by the growth of this metric: “Generally, an increase in the supply in profit tends to fuel bullish phases.”
Bull run or more profit-taking
At the moment, he said, the supply in profit has climbed above 85%, and this is “fairly positive.”
📈 Having a large portion of the supply in profit is not a bad thing, quite the opposite.
Of course, there are certain levels that are more “comfortable” than others, but generally, an increase in the supply in profit tends to fuel bullish phases.
👉 Currently, the supply in… pic.twitter.com/PG4h6yQhWe
— Darkfost (@Darkfost_Coc) April 28, 2025
The analyst added that during the previous market correction, this metric “dropped close to 75%, a relatively low level that aligns with the global average (bell curve).” This is “a critical threshold,” he stressed. However, if the supply in profit falls below this level, the analyst warns, it “could trigger more profit-taking or even spark a capitulation event.”
But even if the 90% level is surpassed and euphoria is reached, the analyst warns, “these euphoric phases can be short-lived and are often followed by short- to medium-term corrections.”
