Bitcoin's profitability metrics suggest the market is undergoing a correction rather than a full structural reset. As of April 1, 2026, the share of profitable Bitcoin coins has recovered to 66.4%, with the 30-day moving average (30DMA) at 69.1%. However, the 365-day moving average (365DMA) remains high at 87.5%, indicating that the market has not reached the reset levels seen in past cycles. Historically, a full reset was marked by the 365DMA dropping significantly, as seen in the 2017-2019 cycle when it fell to 63.8%. Despite the current drawdown, where profitability metrics have dipped to 55.7%, the 365DMA's elevated level suggests the market is experiencing a cyclical correction with increased volatility, rather than a complete bearish reset.