$BTC is now above the 70% profitability threshold, which could trigger a move upward instead of the active profit-taking on the market
A glance back at the previous cycle reveals a similar pattern. During that period,holders were approaching a 90% profitability rate when the price was hovering around the $11,000 mark. Such a situation could have triggered a sell-off, but instead, investors persisted in expanding their positions even as minor price declines temporarily reduced the number of profitable holders. Ultimately, this led to the $69,000 ATH.
This historical pattern suggests that Bitcoin holders maintain a strong conviction in the cryptocurrency during bull markets, consistently augmenting their portfolios over time. As such, even if Bitcoin's price were to reach a point where over 90% of investors were in profit, similar to the scenario in 2020, there is no compelling reason to believe that the price would not continue to climb. This insight offers a fresh perspective on the possibility of a robust upward trajectory for Bitcoin.
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