Bitcoin tanks 27% and panic sets in... or does it? š
Entry: N/A
Target: N/A
Stop Loss: N/A
Hold up, crypto fam! $BTC just took a nosedive from its ATH, but the on-chain data is telling a wild story. While the charts look scary, a massive 67% of all Bitcoin supply is STILL in profit. This isn't your typical bear market signal. Adler AM's analysis shows this "supply in profit" metric is way above the 50% capitulation line. We saw this similar to early 2022, not a final top. Even at the 2023 bottom, it was a dismal 46%. This means the market structure is holding strong, not breaking down. Bears might think they've won, but bulls are still in control of the battlefield.
#Bitcoin #Crypto #BTC #MarketAnalysis #OnChain
BTCUSDT
Perp
92,147.6
+2.34%
