@victorash
Bitcoin's current situation resembles early 2022.
According to analytics firm Glassnode, the current Bitcoin market situation is similar to the market structure observed in the first quarter of 2022.
Glassnode analysts presented data from their Supply Quantiles Cost Basis Model, which determines price levels corresponding to specific levels of investor profitability. The model tracks three supply quantiles: 0.75, 0.85, and 0.95. When Bitcoin trades at 0.75, 75% of the supply remains in profit, while 0.85 and 0.95 correspond to 85% and 95% profitability, respectively.
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