@parsam.eth
The percentage of Bitcoin supply in profit is approaching levels historically associated with bear market bottoms.
During bull market euphoria, nearly all $BTC holders are in profit. But at major cycle lows, that number has consistently fallen below 50%.
Previous bear market lows:
šø2015: ~42ā43%
šø2018ā19: ~42ā43%
šø2022: 47.86%
š¹2026: 48.71% (so far)
Could it go lower? Sure.
Does history guarantee it will? Not at all.
What it does suggest is that this bear market may be entering its final chapter.
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