July 4 (Cointime) - According to on-chain data, 75% of the circulating supply of Bitcoin is currently in profit, which could lead to a potential drop in the asset's price. The "supply in profit" indicator measures the total amount of Bitcoin currently holding an unrealized gain. As more investors come into profit, they become more likely to sell, making a widespread selloff more probable.
The current level of the indicator is around where Bitcoin hit a local top back in April of this year, and it remains to be seen if the market can push through this psychological barrier and allow the rally to continue.
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