Bitcoiners are in profit, but beware of short-term fragility: Glassnode
Bitcoin’s massive gains amid a surge in Bitcoin ETF inflows are signalling strong demand, but analysts warn that rising leverage introduces short-term risks.
Nearly all of Bitcoin’s supply is now in profit after a recent rally, but rising leverage and “crowded call positioning” could suggest growing short-term fragility, according to onchain analytics.
As of Wednesday, 97% of Bitcoin (BTC) supply is in profit, reported blockchain analytics provider Glassnode.
Elevated profit levels often precede consolidation and realized profits remain contained, “suggesting an orderly rotation rather than distribution pressure,” the analysts added.
