[Analyst: Bitcoin's Profitable Supply Drops to 53.8%, Investors Remain Cautious] Crypto analyst Darkfost noted in a post that Bitcoin is currently in a period filled with uncertainty, with most investors adopting a wait-and-see attitude. While the profitability in the market has seen a slight rebound, it is not yet sufficient to make holders feel confident about stable profits, thereby driving further market development. This state corresponds to the range where '50% of the supply is in a profitable state.' Previously, this ratio briefly surpassed 60% but has now fallen back to 53.8%. Such behavior is typical during the late stages of a bear market. After the capitulation phase, where profitable supply drops below 40%, it takes time to climb back above the 50% threshold, rebuild investor confidence, and attract new demand. For now, patience is required as the market behavior stabilizes, allowing profitable supply to consolidate further.