📈 Currently, around 61% of the Bitcoin supply is being held in profit.

At first glance, this may seem relatively high, but in reality it remains a fairly low level.

Historically, during bull market phases, the share of supply held in profit tends to stay above 75%.

Conversely, bear market phases have historically been associated with a much larger dominance of losses, with roughly 45% of the supply being held at a loss.

When BTC dropped below $60K, the market came close to reaching an equilibrium between profits and losses, with only 51.1% of the supply remaining in profit.