Glassnode: Bitcoin Is Currently In “Bear To Bull” Transition Period

Data from Glassnode suggests Bitcoin is currently in the historical bear market to bull market transition period.
Bitcoin Correlation Between Price And Supply In Profit Has Recently Been Below 0.75
As per a recent report by Glassnode, the BTC correlation between the price and the supply in profit generally observes multiple drops below 0.75 during transitional periods.
The “supply in profit” is an indicator that measures the percentage of the total Bitcoin supply that’s holding