By: Isha Das
Latest data indicates that nearly 91.20% of the entire circulating Bitcoin supply has now entered a state of profitability. This impressive figure, constituting almost 17,553,000 BTC, is one of the highest in the history of Bitcoin's profitability regime, signifying a strong bullish trend in the digital asset market.
The last time such high profitability was observed was in October 2021, when roughly 18.6 million Bitcoins were considered profitable. As we get closer to this all-time high, it insinuates the impending likelihood of a similar threshold crossing, which historical data shows are generally followed by 95% of the circulating Bitcoin supply turning profitable.
As of now, Bitcoin's value is 33% below its peak value - a high significantly achieved 789 days ago in November 2021 when a Bitcoin was valued at an exceptional $69,010. Despite overbearing market volatility, this data represents Bitcoin's upward trajectory and the digital asset market's robust health.
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