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Bitcoin (BTC) has passed 273 days during a period when a large portion of the supply is in profit, indicating the second longest bull phase in history while risk probabilities are increasing.
The on-chain analysis platform Glassnode shared striking data regarding the duration of Bitcoin held in profit. Accordingly, BTC spent a total of 273 days above the “+1σ band,” where the vast majority of the total supply is in the profit zone. This period has been recorded as the second-longest uninterrupted bull phase in cryptocurrency history.
The longest record belongs to the 2015–2018 cycle. During that period, Bitcoin similarly stayed above these levels for 335 days. While it remains a question whether the ongoing process will break this record, it is emphasized that for investors, this indicates how "stretched" the market cycle has been.