99.4% of Bitcoin in Profit as Bulls Eye $133K Target

In Brief

• 99.4% of Bitcoin supply is in profit, signalling strong market confidence and momentum.
• Institutional holdings surge with ETFs and public firms now controlling over 2.5 million BTC.
• Exchange outflows hit a 3-year low, showing reduced selling pressure and long-term holder conviction.

Bitcoin continues its upward trajectory as 99.4% of its total supply now sits in profit, according to CryptoQuant analyst Axel Adler Jr. This level of profitability ranks among the highest in the asset’s history, signalling exceptionally strong market sentiment and growing confidence among holders.

Historically, such extreme profit ratios have coincided with bullish continuation phases or the early stages of euphoric rallies. Adler highlights the Short-Term Holder Realised Price (STH RP) target of $133,000, suggesting significant upside potential remains if current momentum sustains.

Bitcoin’s price, now at $124,360.85, has gained 0.43% over the past 24 hours and 9.03% in the last week. The slight 0.13% hourly dip reflects minor consolidation after a strong rally, but the broader trend remains firmly upward.

Institutional Accumulation Tightens Supply as Exchange Outflows Hit Three-Year Low

Checkonchain data shows global Bitcoin ETFs now hold 1.47 million BTC, with 89% controlled by U.S.-based funds. Public companies add further pressure, collectively holding over 1 million BTC, led by MicroStrategy’s 636,000 BTC.

Additionally, public mining firms hold around 93,000 BTC, showing increasing commitment to reserve strategies. These long-term holders reduce circulating supply, reinforcing bullish conditions across major on-chain metrics.

Meanwhile, CryptoQuant reports exchange netflows have dropped to a 3-year low, with nearly -7,500 BTC leaving centralised platforms. This drop signals stronger holder conviction and reduced selling intent as coins move to cold storage.

Miners ease selling, buyers re-engage, and institutions rebuild positions, forming the base of a more sustainable Bitcoin rally. Market researchers at NovaqueResearch stated, “If this alignment persists, it sets the stage for a constructive medium-term bias.”

They added that the setup could “fuel a relief rally capable of squeezing out roughly $16 billion in short exposure” before the next consolidation. This shift underlines rising optimism and structural strength in Bitcoin’s current market trajectory.