With the market approaching YTD highs, a significant proportion of the supply has now recovered from being held 'in-loss' to 'in-profit'. The percent of supply in profit jumped by a massive 4.7M BTC, equivalent to 24% of the total circulating supply. This provides insight into the volume of coins which changed hands, and have a cost basis between $27k and $35k.


With 81% of the supply now in profit, the market has now returned to positive gear, with this metric now being above the long-term average for this metric (shown in green).


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November 06, 2023 at 12:17 PM
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