The proportion of profitable Bitcoin supply is at 88.8%, slightly lower than before but still significant. With the recent price increase to $66,000, experts are closely monitoring Bitcoin for potential momentum in the market. There is positive pressure on Bitcoin due to a large portion of its supply being profitable at the moment.

Since hitting $44,000 earlier this year, the proportion of profitable Bitcoin supply has not been this high. Analysts are observing Bitcoin closely to see if it can sustain its momentum and potential rise in the market. A sudden jump to $75,000 might indicate the market has reached its lowest point, while a drop below $58,000 could suggest otherwise.

Moreover, the Bitcoin MVRV ratio hints that now is a good time to invest. If the ratio falls below the 90-day average since November 2022, as predicted by expert Ali Martinez, it presents a profitable opportunity to purchase Bitcoin with an average 67% gain in the past. The reoccurrence of this trend suggests that now could be an ideal time to buy bitcoin.

Currently, Bitcoin is trading at $65,966, showing a 1.62% increase in the last 24 hours.