Bitcoin is on the verge of reaching a new all-time high as the supply of profitable coins approaches 87%. This surge signals a potential market euphoria, previously seen when profitable supply exceeded 85%. Analysis shows a strong accumulation of Bitcoin by new and momentum buyers, with minimal profit-taking activity observed. Analyst DarkFrost indicates that while rising profitable supply generally supports bullish market phases, caution is warranted due to past behaviors leading to sharp corrections following euphoria. The cryptocurrency recently rebounded from the $89,000–$90,000 support zone, bolstering predictions of further price increases, potentially reaching between $110,000 and $115,000. The on-chain data indicates that fresh demand is emerging without heavy sell-offs, reinforcing the bullish sentiment. If deeper corrections occur, the $70,000–$72,000 area may act as critical support. Overall, the outlook for Bitcoin remains optimistic as it aims for significant price milestones in the coming days.

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