The “Auction Percentage in Profit” indicator shows what percentage of Bitcoins are currently in profit. This criterion can help us understand whether or not we are moving from the minimum price phase to the bull market. 🟩 Main bull market, excitement phase: more than 80 percent. 🟨 Transition phase: between 55 and 80 percent. 🟥 Bear market, price discovery phase. Lower bound: less than or equal to 55%, although this index is still around 85%, it was briefly below 75% during the corrections in July and August, showing that we are probably in a transition phase. Of course, a drop below 80% does not necessarily mean a transition from a bull market to a bear market. However, it is important to remember that this index has been on a downward trend for the past four months and Bitcoin cannot surpass the March high if this trend continues and the bid/earnings ratio remains below 80%, we should prepare for the possibility of a market crash. It is important to monitor whether this index can change its direction from a negative slope to a positive slope or not.
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