Despite recent Bitcoin (BTC) price volatility, more than half of the asset’s circulating supply is currently in profit.
Specifically, on-chain data shows the seven-day moving average of the percentage of BTC supply in profit stands at 52.3%, according to insights retrieved by Finbold from The Block on April 21.
This suggests that slightly more than half of all existing Bitcoins would generate gains for holders if sold at current market prices. The metric measures the share of coins whose last on-chain movement occurred at a price below Bitcoin’s prevailing level.
At the moment, Bitcoin is trading at aroun $78,000, well below its record high above $126,000 in October 2025. At that peak, 99.66% of the supply was in profit, reflecting near-universal unrealized gains.
The decline in this metric follows a broader cryptocurrency market correction. Similar levels around 50% have appeared in past cycles during weaker price periods, often aligning with reduced selling pressure as losses stabilize or investors exit positions.
Analysts track supply in profit as a gauge of holder positioning. Readings above 90% typically signal late-stage bull markets, while lower levels indicate a larger share of coins was acquired at higher prices.
With roughly 19.8 million coins in circulation, the metric, weighted by coin volume, offers insight into the exposure of larger holders and institutions.
Notably, while such indicators can point to phases of selling exhaustion, they do not pinpoint exact market turning points.
Bitcoin price analysis
By press time, Bitcoin was trading at $78,263, up about 3% in the past 24 hours. On the weekly timeframe, the cryptocurrency has gained roughly 5%.
At current prices, Bitcoin is in a mixed technical position when assessed through its moving averages and momentum indicators.
The price remains comfortably above the 50-day SMA at $70,718, suggesting the short- to mid-term trend remains supportive, with buyers maintaining control in recent weeks.
However, it is still below the 200-day SMA at $86,129, indicating the broader trend has not fully turned bullish and that longer-term resistance remains significant.
On momentum, the 14-day RSI stands at 61.31, placing it in neutral territory with a slight bullish bias. This indicates that buying pressure is present, though not strong enough to signal overbought conditions or a confirmed breakout phase.
