Supply in Profit
BTCThe share of circulating bitcoin whose last-moved price sits below the current price, that is, the percentage of supply 'in profit'.
What it is
Percent Supply in Profit measures, coin by coin, what fraction of all circulating BTC last moved at a price below today's and is therefore held at a gain. It is value-weighted and has no tuning parameters, a simple read on how much of the market is above water.
How it's computed
Divide the supply held in profit by total supply and express it as a percentage. Both are measured on the same coin-lifetime basis, so the result always falls between 0 and 100%.
How to read it
Near 100% signals broad euphoria, when almost everyone is up, typical of tops. Sharp drops mark capitulation and bottoms. It is already a bounded 0–100% share, so it is linear-normalized.
At prior cycle extremes
The figure approaches 100% near cycle tops and plunges during capitulation events at cycle lows.
Related
Analytics, not advice. These metrics describe where market data sits in the cycle; they are not trading signals, price targets, or financial advice.