92% of Bitcoin holders make profits, but cracks begin to emerge

The market outlook for Bitcoin is still confusing, with various conflicting signals emerging one after another: 92% of the supply is in profitable state, which is a bullish indicator in history, but the ratio of network value to Metcalf fell by 4.54%, indicating that the valuation is too high, while the stock traffic ratio fell by 42.86%, weakening the scarcity argument. The spot inflow of $39.13 million indicates liquidity pressure and potential selling risks. In a fragile environment of the market, traders face various signals.