Bitcoin Drops 27%, But On-Chain Data Shows Bulls Still Dominating With 67% of Supply in Profit!🔥
Bitcoin has pulled back sharply from its record high, dropping nearly 27% from the $125,000 peak to trade around $90,000, but on-chain data reveals a surprising twist:
67% of all BTC supply is still in profit, showing that bullish strength remains far from broken.
According to new analysis from Adler AM, Bitcoin’s supply-in-profit metric which measures how much of the circulating supply sits above its acquisition price remains well above the crucial 50% capitulation line. Historically, dips below this threshold mark deep bear markets, panic selling, and structural breakdowns.
But today’s reading paints a different picture.
• Bitcoin has corrected 27–35% from its ATH, yet two-thirds of holders remain in the green
• The profit metric mirrors early-2022 correction conditions, not a full macro top
• During the 2023 bottom, the metric fell to just 46% far below current levels
This suggests that while sentiment feels shaky, the underlying market structure remains only moderately bearish, not overwhelmingly negative.
Analysts warn, however, that if profitable supply falls below 50%, downside pressure could accelerate rapidly similar to past capitulation phases.
For now, though, Bitcoin’s drawdown appears to be stabilizing, anand recovering short-term indicators hint that a local base may be forming, even amid volatility.
In simple terms?
Bears got a pullback... but bulls still own the battlefield.
