Profitability mimics the height of last year’s bull run, but the circumstances have changed beyond recognition in 2020.
The vast majority of the Bitcoin (BTC) supply is now in profit after its price bull run to $11,400, data shows.
Tracked by on-chain monitoring resource Glassnode, as of July 27, almost 95% of the Bitcoin supply is now worth more than when it last moved.
Bitcoin profitable days hit 97.7%
Monday’s figure almost matches the previous high set in June 2019, at the height of Bitcoin’s price surge which topped out at $13,800.
Bitcoin percent supply in profit 3-year chart.