CryptoQuant: Bitcoin’s on-chain profit-taking supply ratio approaches the critical 45% threshold, signaling a potential deep market reset

TechFlow News: On June 10, blockchain analytics platform CryptoQuant reported that Bitcoin’s “Percent of Supply in Profit” indicator is approaching the critical 45% threshold. Historical data shows this level typically coincides with periods of intense market stress and heightened risk of mass capitulation—by contrast, during bull market peaks, this metric often exceeds 90%. Current data indicates that a large portion of Bitcoin holdings have shifted from profitable to unprofitable positions, signaling that the market is undergoing a profound reassessment of expectations—not entering a state of euphoria.

From an on-chain perspective, profit compression tends to drive the redistribution of coins from weak hands to long-term holders. This may intensify short-term volatility, yet historically such reallocation processes have contributed to healthier market structures. Long-term accumulation opportunities may now be emerging.