Bitcoin % Supply in Profit
Supply in profit
67.2%
+0.4 pts in 30 days
Bitcoin's supply in profit is 67.2% as of Oct 14, 2026, higher than on 32% of days since 2011. The remaining 32.8% last moved at or above that day's close of $81,574.
- Supply in profit
- 67.2%
- Oct 14, 2026
- All-time high
- 99.6%
- May 18, 2025
- All-time low
- 36.0%
- Aug 24, 2015
- 30-day change
- +0.4 pts
What it is
The share of all bitcoin whose price when it last moved is below the latest daily close.
Every unspent coin carries the daily close of the day it last moved. If the latest close is higher, that coin is in profit. The share is weighted by amount, not by the number of outputs, so 10 BTC counts ten times as much as 1 BTC. It measures unrealized profit: nothing has been sold, the coins simply sit above or below what they last moved at.
How to read it
Close to 100% at market tops, far from zero at the lows.
At every cycle top in our data it read between 97.6% and 99.1%. At every confirmed cycle low it read between 39.3% and 44.5%. It has never gone below 36.0%, the reading of Aug 24, 2015. Coins that have not moved since before our price history count as in profit at any price, and coins that last moved at far lower prices stay in profit through a bear market, so the floor sits well above zero.
How it’s computed
Coins whose last-move close is below the day’s close, as a share of every coin in circulation.
We replay every block on our Bitcoin Core node and keep, for every day, how many of the coins created that day are still unspent. A coin is in profit when the close on the day it last moved is below the close of the day being measured. Coins that have not moved since before Aug 18, 2011, when our price history starts, have a cost basis of zero, so they always count as in profit, the same convention Coin Metrics and Glassnode use. The line starts on Aug 18, 2011.
Supply in profit at past cycle tops and lows
Each row is a day picked by our own price data: the highest daily close of each bull market, and the lowest close between two tops.
| Event | Date | BTC close | In profit |
|---|---|---|---|
| Cycle top | Dec 4, 2013 | $1,132 | 97.6% |
| Cycle low | Jan 14, 2015 | $171 | 39.4% |
| Cycle top | Dec 16, 2017 | $19,188 | 98.2% |
| Cycle low | Dec 15, 2018 | $3,180 | 39.3% |
| Cycle top | Nov 8, 2021 | $67,559 | 98.3% |
| Cycle low | Nov 21, 2022 | $15,766 | 44.5% |
| Cycle top | Oct 6, 2025 | $124,728 | 99.1% |
| Low since the last top | Jun 30, 2026 | $58,526 | 45.6% |
Dates are UTC daily closes. The latest low is provisional until a new cycle top confirms it.