Bitcoin breaks through supply range and enters weak accumulation area

Bitcoin has broken through the supply range of $59000 to $72000 and entered the weak accumulation zone of $82000. Spot CVD is recovering, ETF fund inflows are rebounding, perpetual contract funding rates remain negative, and short covering is driving market changes. At present, only 60% of Bitcoin supply is in a profitable state, and there has been no structural transformation after multiple early rebounds have exhausted their momentum. （glassnode）