Recent market fluctuations have significantly impacted Bitcoin's Supply in Profit metric, which measures the percentage of Bitcoin (CRYPTO:BTC) holdings currently in profit.
As Bitcoin's price dipped below $60,000, the Supply in Profit decreased to around 81%, indicating a rise in holdings at a loss.
This decline suggests heightened investor caution and potential sell-offs as traders may seize profitable opportunities.
Despite a minor price rebound above $61,000, ongoing monitoring of these metrics is crucial for predicting market trends and guiding investment strategies amid continued volatility in the crypto space.