Bitcoin (BTC) is showing profits across nearly its entire supply, leading market observers to consider a possible short-term price adjustment. Historically, broad profitability has preceded temporary market dips.
Near-Universal Bitcoin Profitability (99.3%) Signals Potential for Price Dip
Market analyst Ted Pillows has highlighted figures showing that 99.3% of the total Bitcoin in circulation is currently in profit, given its present trading value of around $121,900. According to Pillows’ research, on the three prior occasions when Bitcoin’s profitable supply exceeded 99%, the price subsequently declined by 3% to 10%.
99.3% of all Bitcoin supply is now in profit.
In the last 3 instances when the $BTC profit supply was 99% or more, a 3%-10% correction happened.
Will this time be different? pic.twitter.com/2jBVmEnMrn
— Ted (@TedPillows) October 4, 2025
This pattern typically emerges as traders secure gains after extended periods of price appreciation. Pillows suggests that a similar situation is unfolding currently. Consequently, Bitcoin may experience a short-lived decline before continuing its overall upward trajectory.
The data, sourced from CryptoQuant, underscores the correlation between Bitcoin’s price and the proportion of coins held at a profit. The fact that almost every holder is now “in the green” reflects growing confidence among investors. However, such rapid profit accumulation could potentially lead to an overbought condition.
Positive Sentiment Surrounds Bitcoin; Fear and Greed Index Reaches 63
The Crypto Fear and Greed Index has risen to 63, indicating increased optimism within the cryptocurrency market. According to observations from analyst Darkfost, Bitcoin is approaching a new all-time high. Importantly, market sentiment has not yet reached levels of extreme euphoria.
Darkfost describes the prevailing mood as “optimistic but measured,” a condition that could support Bitcoin’s continued advance. Standard Chartered has forecasted Bitcoin potentially reaching $200,000 amid ongoing ETF momentum.
Historically, major market peaks have been preceded by the Fear and Greed Index consistently entering “extreme greed” territory (above 80). The current reading of 63 suggests there may still be room for prices to increase before sentiment reaches its peak.
“At every previous top, we consistently moved into extreme greed territory,” Darkfost noted, implying the market is not yet overheated. This blend of solid on-chain statistics and increasing investor sentiment creates a complex market picture.
Bitcoin Trades Around $121,900 Amid Rising Optimism
Typically, high levels of profitability can trigger significant profit-taking, resulting in price corrections. However, the absence of extreme greed could indicate that Bitcoin still has potential for further gains. Reinforcing this view, Bitcoin ETFs have experienced record weekly inflows of $3.2 billion in 2025. This reflects strong institutional interest and renewed market confidence.
Provided that sentiment continues to rise gradually without reaching euphoric levels, BTC may have the momentum to reach a new all-time high. Currently, BTC price is holding near $121,900. A correction would not necessarily signal a bear market but could represent a healthy reset after months of price growth.