Quick Take
As per recent data from Glassnode, an impressive 91.20% of the total circulating supply of Bitcoin, amounting to nearly 17,553,000 BTC, has entered a profitable state. This figure, one of the highest in Bitcoin’s profit regime, reflects a solid bullish trend in the digital asset market.
In comparison, the highest recorded profit regime was observed in Oct. 2021, where approximately 18.6 million Bitcoins were in profit. As the current scenario edges closer to this all-time high, it suggests an imminent threshold crossing. Historically, such crossings are usually accompanied by 95% of the circulating Bitcoin supply turning profitable. While mindful of volatile market trends, this analysis highlights the upward momentum Bitcoin has been experiencing and indicates the robust health of the digital asset market.
As of Jan. 9, Bitcoin’s value is 33% below its all-time peak. This high was notably achieved 789 days ago, in November 2021, when a single Bitcoin was valued at an unprecedented $69,010.
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