Bitcoin Impulse Performance Indicator Drops to Zero as Profitable Supply Falls
Bitcoin’s supply in profit declined to about 72% by Sept. 29, below its 76% long-term average, while BTC held near $83,000.
Bitcoin (BTC) market momentum weakened as the share of supply held at a profit fell to about 72% and both lines of the Bitcoin Impulse Performance indicator reached zero.
The profitable-supply share was down from a 73.8% peak and remained below its 76% long-term average as Bitcoin’s price stayed around $83,000 on Sept. 29. The share had risen from 65% to its peak while BTC climbed from about $76,000 to $87,000 between Sept. 17 and Sept. 27.
The indicator’s fast and slow lines both reached zero between Sept. 29 and Sept. 30. A zero reading shows that the rebound has temporarily lost directional momentum, but it does not confirm a trend reversal.
A further decline below zero, combined with another drop in the profitable-supply share, would strengthen signals of market weakness.
