Recent data shows that approximately 98% of Bitcoin supply is profitable, indicating optimism about its future growth.
Bitcoin Profit Soars to 98%
According to Glassnode, the percentage of Bitcoin in profit surged to 98% from 87% between June 22 and June 29. As of July 1, approximately 96.65% of all Bitcoins are in profit. Historically, such elevated levels can lead to market volatility due to the potential for profit-taking, reflecting a bullish yet cautious investor sentiment.
Bitcoin Growth Prospects
Since November 2022, Bitcoin has bounced back from a bear market low of $15,500, demonstrating an approximate 590% rally to the current price of around $107,000. Popular analyst Stockmoney Lizards believes Bitcoin is on the verge of breaking out of a multi-year channel, with a short-term target of $140,000 and an end-of-year target of $200,000.
Analyst Opinions and Predictions
The Bitcoin price prediction of $200,000 is increasingly becoming a common target for the second half of 2025. For instance, 21st Capital co-founder Sina anticipates that BTC may reach between $130,000 and $200,000 by Q4 2025 based on a power law model. Analysts also note that a declining US Dollar Index could drive up Bitcoin prices.
In conclusion, Bitcoin's forecasts present a blend of optimism and caution. With continued interest and demand, Bitcoin may reach new heights by 2025.
