Bitcoin Supply in Profit Falls Back to 53.8% After Topping 60%

The share of Bitcoin (BTC) supply in profit was reported at 53.8% on Oct. 20 after briefly topping 60%, bringing the measure closer to a level analyst Darkfost associates with investor hesitation.

At 50%, half the supply counted by the measure is in profit. The reported figure remains above that midpoint, but the brief rise past 60% did not hold.

Darkfost views movement around 50% as a sign that investors are hesitant. In his assessment, the slight recovery in profitability has not been enough for holders to feel securely in profit.

He compared the pattern with late bear markets, when the profitable share has fallen below 40% during periods of capitulation and taken time to regain 50%. That comparison is his interpretation of the current reading.

Darkfost said investor behavior still needs to stabilize before the share of supply in profit can remain above 50%.