Data: 88% of Bitcoin Supply is in Profit

According to Glassnode data, 88% of Bitcoin supply is currently in a profitable state, with losses mainly concentrated among buyers in the $95,000 to $100,000 range. This high profitability rate has rebounded from the long-term average of 75%, indicating that investors' expectations are being reset. The Bitcoin price has recovered from its long-term cumulative average profit percentage, marking a significant shift. Previously, in August 2024, Bitcoin retested the 75% average around $60,000. This suggests that the $75,000 to $95,000 price range may represent the bottom, consistent with the structural market conditions observed in the third quarter of 2024.