Bitcoin to Hit $85K Again? 80% Bitcoin Supply in Profit Mark Signals Major Bull Run Ahead!

On-chain data reveals that the percentage of Bitcoin supply held at an unrealized profit has not fallen below a vital threshold during the current market cycle, suggesting the Bitcoin bull run remains intact despite recent volatility. This “Supply in Profit” indicator tracks how much of the Bitcoin supply is held at a net gain, offering insights into market sentiment and potential price momentum.

Supply in Profit Stays Above 70%, Signaling Strength

According to a CryptoQuant analyst, the Supply in Profit metric has remained above 70% throughout this cycle, a level that has marked the boundary between bull and bear markets in the past. The indicator measures the proportion of tokens last transacted below the current Bitcoin price, meaning holders are sitting on gains. “During the last cycle, losing the 70% level meant the start of a bear market for BTC,” the analyst explained. So far, Bitcoin has only approached but not breached this line, even during last year’s consolidation phase.

The metric also highlights an 80% level that Bitcoin has dipped below several times this cycle, but is now close to retesting again. “The next target is to push the supply in profit back to 80% to signal strong bullish momentum,” the analyst noted. Historically, breaking above this line has coincided with the start of Bitcoin bull runs.

What This Means for Bitcoin’s Future

The Bitcoin price has seen some pullbacks, recently slipping to around $83,900, but the sustained Supply in Profit above 70% suggests that most holders remain optimistic. This resilience implies the market has not capitulated, and long-term investors are holding firm. While the path to renewed highs may face resistance, the on-chain data paints a cautiously optimistic picture for Bitcoin’s ongoing bull cycle. 

Traders and investors will watch closely to see if the Bitcoin Supply in Profit can climb above 80%, which could ignite stronger upward momentum and confirm the bull market’s continuation. With that in mind, let’s examine the latest Bitcoin price performance to analyze possible patterns and trends and form a Bitcoin prediction. 

Bitcoin Price Analysis: Bitcoin Fails to Hold Above $85K Again

Bitcoin commenced trading yesterday at $83,600. It continued the downtrend from the previous day, declining to find support at $83,100. With the coin now oversold, an uptrend was observed. However, the upward journey was short-lived as it faced rejection at $83,930. The rejection led to a death cross at 3:20 UTC, as the Bitcoin price slowly decreased to $83,260. It tried to ascend, but the correction again led it to the support level. However, in the next 2 hours, Bitcoin continued to test the resistance repeatedly until it broke out upward at noon. 

Chart 1: published on TradingView, April 17, 2025

Slight correction followed, with Bitcoin at $83,700 at 13:50. Around the same time, a massive golden cross formed as Bitcoin scaled the charts. It reached $85,350 by 17:00 UTC. At 17:30, a big death cross appeared, as Bitcoin plunged in the next half an hour, going to $83,200. With the market now in heavily oversold conditions, a trend reversal was called as Bitcoin formed an uptrend. But $84,650 posed stern resistance. Bitcoin has since consolidated around the $84,000 mark. 

Bitcoin Price Prediction: Can Bitcoin Get Back to $85K Today?

Bitcoin has had the support of intense buying pressure over the past few days. Yet, all its upward advances have plateaued around the $85,000 mark. If the Bitcoin price is to move above $85K again, it should stabilize around the current $84,000 mark and attempt an uptrend. However, as of the latest update, the market has already reached overbought conditions with a slight increase in Bitcoin prices. This means that further correction could occur. In that case, $83K will be a key holding level for Bitcoin.