72% of Bitcoin Supply in Profit, but Momentum Drops to Zero Near $83K
- —Bitcoin supply in profit rose from 65% to 73.8% in September, the highest since January 20
- —By September 29 the figure slipped to 72%, below the long-term average of about 76%
- —The Bitcoin Impulse Performance indicator fell to zero on September 29-30 with BTC near $83,000
- —In May-June, a move below zero accompanied a drop from $77,000 to $63,000
Why it matters: A sustained move below zero alongside falling profitable supply would signal that September's recovery is losing strength.
Source: DailyCoin