Odaily News Analysts at Glassnode, a crypto data provider, said that after Bitcoin continued to break through historical highs, it has now entered a new price discovery phase, and almost all of the circulating supply of Bitcoin is profitable. Bitcoin hit a record high of $93,265.24 per coin in the early hours of Thursday morning, and has risen by more than 110% so far this year. Historically, such rising phases last about 22 days on average, and then there will be a major correction, when the price of about 5% of the circulating Bitcoin may be pushed down below the original acquisition price. The current circulating supply of Bitcoin has remained at a high profit level for about 12 consecutive days, which means that Bitcoin's rally may still have room to run, but if history repeats itself, the cryptocurrency may face a major correction in the coming days.