Introducing the indicator, which makes Bitcoin cycles easy to understand. $BTC

This indicator represents the ratio of supply in profit, and is used to assess the progression and transitions of cycles. (Though it can't be cut as precisely as with a sharp knife..)

Bull Market (Euphoria Phase): >80%

Transition Phase: 55%~80%

Bear Market Bottom Phase: ≤55%

Currently, Supply in Profit is at 63.39%, showing a temporary departure from the bear market / bottom phase.

However, in past cycles, the percentage has recovered only to fall back below 55% again, deepening the bottom, so it's still too early to judge a transition to a bull market.