Ethereum Never Reached A Key Bull Market Milestone This Cycle

Crypto Insight Summary: 438&PID=0&textadID=0&tc=1&rnd=9419745&scheduleID=2287066&placementScheduleId=2287066&adItemScheduleId=0&adSize=1200x90&metadata=%5B%5D&mt=1781076343457128&sw=800&sh=600&spr=1&referrer=https%3A%2F%2Fbitcoinist.com%2Fethereum-never-key-bull-market-milestone-cycle%2F&request_uuid=bdb9ee01-4ae9-4a65-8bc1-c828c826745a&hc=87693992f70df9fad9db3da4848165c0d63ffee5&location=) ]( - [x] No Result View All Result * * * * * * * * * * * * * * * * * * * * * * [Security]( ## Ethereum Has Seen Its Profitability Profile Compress This Cycle In a new [post](https://x.com/glassnode/status/2064002306807374077) on X, Glassnode has talked about how the share of supply carrying a gain of more than 300% is currently looking on the Ethereum blockchain. Related Reading: [Ethereum ETFs Attract $82M In Inflows While Bitcoin Funds Bleed](https://bitcoinist.com/ethereum-etfs-82m-in-inflows-bitcoin-funds-bleed/) The reason behind this supply being at a low level is naturally in part due to the bearish market conditions. It’s apparent in the chart that the last time that the network saw this supply occupy a lower share was all the way back in February 2017. Both the 2019 and 2022 [bear markets](https://bitcoinist.com/bitcoin-bear-record-shallow-if-60000-low-glassnode/) never saw profitability this bad. [BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?](https://bzstarz.com/b1326adec) In fact, bear market levels isn’t all that has differed in the current cycle. In the previous two cycles, the 3x profit supply crossed the 50% level during the [bullish phase](https://bitcoinist.com/bitcoins-on-chain-landscape/). Crypto Insight Analysis: Direction: Bearish ETH Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Ethereum's profitability compression suggests weakened investor sentiment and potential selling pressure.