Above 80% of Bitcoin Supply Returned to Profit
Bitcoin’s majority of circulating supply is in profit, according to on-chain analytics firm Glassnode. The volume of Bitcoin supply in profit reached its highest level two years ago, following the market’s all-time high in November 2021.
However, the unrealized profit within these coins remains modest. The percentage of Bitcoin’s circulating supply in profit reached 83.6% or 16.36 million BTC during last week’s rally, which is above the all-time mean value of 74%. The recent surge has seen greater accumulation patterns than other rallies this year.
(With inputs from Shikha Singh)
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