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>>According to Glassnode, Bitcoin mining profitability has significantly increased, with nearly all existing Bitcoin (97%) currently held in profit.

According to Glassnode, Bitcoin mining profitability has significantly increased, with nearly all existing Bitcoin (97%) currently held in profit.

crypthub

5 days ago

Institutional Demand Drives Bitcoin Surge

Bitcoin’s recent price increase to a new high near $126,000 is largely fueled by institutional investment and consistent on-chain accumulation. Strong demand for U.S. spot bitcoin ETFs, exceeding $2.2 billion in a week, reversed earlier redemptions. This surge in institutional buying absorbed available supply on exchanges, supporting the rally. The influx of capital signals a shift from speculative activity towards more measured investment.

Mid-Tier Holders Accumulate Bitcoin

Data shows mid-tier holders, those with 10-1,000 BTC, are key buyers in this recent upward trend. Larger holders have taken moderate profits, facilitating a phase of more consistent accumulation. Almost the entire circulating supply of Bitcoin is currently in profit. This indicates a late-stage bull cycle pattern.

Market Structure and Future Outlook

The market conditions are described as robust but maturing, with caution regarding leveraged positions. Realized profits are controlled, suggesting a rotation of holdings rather than a widespread exit. Continuing ETF inflows are anticipated to support Bitcoin’s rally into the fourth quarter.