Bitcoin Eyes $115K as Bullish Momentum Builds: Nearly 90% of BTC Now in Profit
BTC’s Surge Driven by New Demand and Dormant Sellers
Bitcoin is charging toward an ambitious $115,000, powered by a surge in profitable holdings and strong buyer demand that has yet to meet resistance from major profit-takers. As of April 28, nearly 87% of Bitcoin’s circulating supply is in profit, a key on-chain signal that has historically preceded euphoric bull runs.
Profitable Supply Nears Historic Thresholds
New data from CryptoQuant indicates that 86.9% of all BTC is currently held at a profit—a level that, in past market cycles, has been a warning sign of approaching euphoria. Between October and December 2024, Bitcoin rallied from $80,000 to over $100,000, following a similar increase in profitable supply from below 80% to as high as 99%.
That same setup is now reappearing.
“Currently, the supply in profit has climbed back above 85%, which is fairly positive,” wrote CryptoQuant analyst DarkFrost, noting that Bitcoin’s current position is much stronger than the deep corrections of past bear markets, when profit levels sank to as low as 45%.
While surpassing 90% profit historically triggers mass profit-taking, Bitcoin has not yet reached that zone, suggesting the rally still has room to run. In previous market cycles, this metric has acted as both a fuel and a fuse—boosting price action before setting the stage for steep corrections.
New Buyers, Minimal Selling: A Bullish Recipe
On-chain analytics from Glassnode reveal a bullish divergence in demand behavior. First Buyers and Momentum Buyers—cohorts often associated with confident accumulation—are stepping in with conviction. Meanwhile, traditional Profit Takers remain unusually subdued.
This imbalance between strong buying and light selling is creating upward pressure on BTC price, a critical condition for sustaining long-term growth.
Key Support Zones: $89K Bounce and $70K Safety Net
Bitcoin’s recent bounce from the $89,000–$90,000 zone has confirmed it as a major support region, according to technical analyst CryptoCaesarTA. This area is now considered a “max buying zone,” where bulls are defending price with high conviction.
Should Bitcoin face a deeper retracement, a more durable support awaits near $70,000–$72,000, in alignment with a long-term ascending trendline. However, current momentum and lack of sell pressure suggest the $90K+ level is holding firm.
$115,000 Target Within Sight
A decisive breakout above the $100,000 psychological level could trigger a surge toward $110,000–$115,000, matching historical resistance points and completing the setup from this latest euphoric wave. CryptoCaesarTA labels this range a “weak high” zone—an area ripe for retesting.
With fundamentals aligning, supply in profit rising, and fresh capital entering the market, Bitcoin’s push to $115K is no longer speculative—it’s increasingly structural.
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