Glassnode reports that 88% of Bitcoin supply is currently in profit, suggesting a shift in investor expectations. The price range of $75,000-$95,000 may signal a market bottom, aligning with Q3 2024 conditions. Factors such as the MVRV Ratio at 1.74 indicate a cooling of unrealized gains, hinting at future growth, while reduced exchange inflows suggest diminished selling pressure from holders.
Bitcoin’s investor landscape is shifting dramatically, as recent insights from Glassnode highlight that a whopping 88% of the cryptocurrency’s total supply is in profit. Most losses are seen in the $95,000 – $100,000 bracket, showing a significant change in what investors expect moving forward. As such, this high profitability is a rebound from a long-term average of 75%, suggesting a new outlook among traders.
Interestingly, Bitcoin’s price has shown signs of recovery from the long-term cumulative profit percentage, suggesting that we might have hit a structural bottom between $75,000 and $95,000. This current range corresponds well with market patterns observed in the third quarter of 2024, reinforcing the idea that this might be where Bitcoin stabilises.
Further indicators of market health can be found in the exchange behaviour. Research from analyst Axel Adler Jr. indicates that there has been a notable 1.5x decrease in the ratio of total exchange flow compared to network activity. This decline highlights a growing trend where the current price surge appears to be driven by organic growth rather than heavy trading.
Also worth mentioning, the dominant behaviour of holders seems to contrast sharply with past price peaks where selling pressure was immense. The current dynamics, marked by negligible urgency to sell at these levels, suggest a more stable market moving forward. It seems investors are viewing Bitcoin, in this range, as undervalued, rather than a quick exit opportunity.
Adding to this picture, the Market Value to Realized Value (MVRV) Ratio is now at 1.74, which is typically seen as a support zone. This ratio signals a cooling off of unrealized gains and hints at a foundation for future growth—critically important since this sentiment has held true since January 2024 during past consolidation phases.
Moreover, the Network Value to Transactions (NVT) ratio currently sits at a neutral 0.5, in stark contrast to the overbought signals when Bitcoin was at these levels back in February 2025. This transition in metrics suggests that the current group of profitable investors might be more reluctant to cash out, adding credence to the bullish narrative unfolding in today’s market.
For those watching Bitcoin, it’s crucial to keep an eye on these emerging trends, as this new attitude among investors might indicate a longer-term uphold in market conditions. Yet, as always, involved parties are reminded that every investment comes with its own set of risks, and thorough research is essential before making any decisions.
