Bitcoin Supply in Profit Holds Near 60% After Excluding Dormant Coins

Bitcoin (BTC) supply in profit has stayed near 60% since August after coins that have not moved for more than 10 years were excluded, offering a narrower view of active market conditions.

The removed holdings are deeply profitable but have limited liquidity. Some may also be lost, reducing their relevance to current trading conditions.

Most of the Bitcoin supply has returned to profitable territory, but the market remains well short of overheating over the medium and long term. The adjusted measure therefore points to a market that has recovered broadly without reaching an extreme profit-taking phase.

Investors are weighing whether to continue holding, realize gains or leave positions at limited losses. Some holdings have been held for nearly a year, adding to the balance between maintaining exposure and exiting.

BTC’s continued movement around current levels is consistent with that balance. Its next direction will depend on how available supply and buyer demand interact.