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Bitcoin volatility stays subdued as in-profit supply nears bear-to-bull level
More than 71% of bitcoin supply is in profit, approaching a 74.7% historical mean that has marked prior bear-to-bull transitions, according to Bitfinex analysts.
Bitcoin’s volatility has remained historically low, with analysts citing long-term holder supply as the dominant driver, according to The Block.
The article notes that more than 71% of bitcoin supply is now in profit, nearing a 74.7% historical mean level that has typically aligned with transitions from bear to bull markets, as described by Bitfinex analysts.
Glassnode’s analysis, as summarized by The Block, found long-term holder supply explains more of the variation in bitcoin one-month realized volatility than market cap, open interest, funding rates, or broader trading activity.
The Block reports bitcoin was trading near $78,000 after briefly topping $82,000 last week, and Bitfinex analysts said conditions for a sustained advance have not yet been met, pointing instead to continued consolidation with an upside bias.
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