Bitcoin Price Exceeds $117k as 95% of Supply Becomes Profitable

Bitcoin Price Surge: Bitcoin's price has surpassed $117k, resulting in over 95% of its circulating supply becoming profitable, indicating a significant return for many investors who entered at lower price points.

Market Sentiment and Risk: The current price level has led to a euphoric market sentiment, which can increase market risk as profit-taking may lead to potential corrections or pullbacks in the price.

Bullish Market Structure: Bitcoin's market structure remains strong within the all-time-high zone, supported by increased inflows, suggesting a continued bullish momentum in the short term.

Caution Advised: While the upward price movement is encouraging, the potential for market corrections due to profit-taking necessitates caution among investors as the market navigates this euphoric phase.