Glassnode: 86% of Bitcoin supply is still profitable
On May 11th, it was reported that as Bitcoin reached a historic high in March, on February 28th, an important milestone was achieved where over 99% of Bitcoin's supply became profitable. According to data from Glassnode, this is the first time since November 2021 that over 99% of the supply has been profitable.
On February 28th, before the price dropped below $57,000, only 92,500 Bitcoins were in a state of loss, and then the price stabilized around $62,000.
As of May 9th, with Bitcoin's price returning to similar levels, data shows that over 2.6 million Bitcoins are currently in a state of loss, while 86% of Bitcoin's supply is still profitable. This change indicates that many short-term holders are now in a state of loss.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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