Bitcoin 2 Months Through “Euphoria Wave,” How Long Was The Last One?
Summary
Bitcoin has been in a two-month euphoria phase, similar to the last bull run. The "Percent Supply in Profit" metric tracks the percentage of circulating Bitcoin carrying a profit. When this metric is above the +1 standard deviation line, it indicates a euphoria or pre-euphoria phase. The current phase suggests that the Bitcoin bull rally may continue for at least four more months. The price of Bitcoin has retraced back towards the $69,400 level after briefly recovering above $72,000.
