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On-chain data shows the Bitcoin Supply in Profit has witnessed a sharp increase recently. Here’s whether the current level is considered high or not.
Bitcoin Supply In Profit Has Crossed The 87% Mark
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According to the latest weekly report from Glassnode, the Bitcoin Supply in Profit has marked an improvement alongside the latest rally in the cryptocurrency’s price.
The “Supply in Profit” here refers to an on-chain indicator that keeps track of the percentage of the total BTC supply that’s currently being held at some unrealized gain.
The metric works by going through the transaction history of each coin in circulation to see what price it was last moved at. If
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