Bitcoin Supply in Profit Nears 98% as ETF Inflows and Technical Signals Suggest Possible Breakout

Key Points

1. Bitcoin’s supply in profit has sharply increased to 98%, up from 87% days prior, indicating heightened market optimism.

2. US spot Bitcoin ETFs attracted $2.21 billion in inflows last week, reflecting growing institutional demand.

3. MicroStrategy acquired nearly 5,000 BTC, exemplifying continued institutional accumulation.

4. Technical analysis suggests Bitcoin may breach a multi-year trendline, with short-term targets of $140,000 and long-term projections of $200,000 by year-end.

5. The weekly Relative Strength Index (RSI) remains below overbought levels, indicating room for upward momentum.

6. Whale activity shows significant Bitcoin holdings moving off exchanges, reducing available supply and supporting price growth.