Data shows the Bitcoin supply in profit has continued its decline, but the metric has still not reached levels as low as the previous bear market bottoms.
Around 50% Of The Bitcoin Supply Is In Profit At The Moment
According to the latest weekly report from Glassnode, the current profitability levels in the BTC market are still above the 40%-42% values that were observed during historical bottoms.
The “percent supply in profit” is an indicator that measures the total percentage of the Bitcoin supply that’s currently holding some unrealized profit.
The metric works by checking the on-chain history of each coin in the circulating supply to see what price it was last moved at. If for any coin this previous pr
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