Bitcoin Supply in Profit Nears 60% as Recovery Risks Persist

Bitcoin’s supply-in-profit ratio tracks the share of coins whose latest on-chain transfer price is below the current market price, offering a broad gauge of unrealized gains and investor confidence. A rising reading can signal improving market conditions, but it does not by itself confirm a durable recovery, particularly when long-term holders remain under pressure and may sell into strength.

The share of Bitcoin supply in profit has rebounded from its 2026 low of 46.2% to nearly 60%, indicating that the latest price recovery has pushed more holdings back above their on-chain cost basis. CryptoQuant analysis, however, showed losses still dominate among long-term holders, leaving the rebound exposed to a second false breakout and another pullback if momentum fades.