Data shows around 15% of the total Bitcoin supply is now in loss, a value that has historically been sufficient to push the price down.
Percentage Of Bitcoin Supply In Profit has Fallen Down To Just 85%
As per the latest weekly report from Glassnode, the total BTC supply in profit has fallen down to just 85% this week, meaning that 15% of the supply is now in loss.
The “percent supply in profit” is a Bitcoin indicator that highlights the share of the total supply that’s currently in profit.
The metric works by looking at what price each coin in the chain was last moved at. If this price was less than the current price, then the coin is said to be in profit.