According to @glassnode, Bitcoin (BTC) breaking above $117,000 has pushed over 95% of circulating supply back into profit. According to @glassnode, such broad profitability is a hallmark of Euphoria phases. According to @glassnode, Euphoria phases often fuel accelerated profit-taking and rising market risk.

According to @Andre_Dragosch, BTC has moved above 117k (source: @Andre_Dragosch on X, Oct 1, 2025). This level is above the prior all-time high near 68,789 from November 2021, implying a fresh record for Bitcoin’s spot price (source: Yahoo Finance BTC-USD historical data for Nov 2021). The move puts BTC roughly 70% above the 2021 peak based on these figures, and round-number price clustering research suggests levels like 120k can attract concentrated liquidity and order flow (sources: calculation based on @Andre_Dragosch and Yahoo Finance; Urquhart, 2017, Finance Research Letters).