Crypto Potato 2026-04-09 16:38:50

Bitcoin Profit Supply Drops to 59%, Closing In on Bear Market Levels

The share of Bitcoin (BTC) supply in profit has dropped to around 59%, bringing it close to levels seen during the last bear market. This comes from data shared by analyst Darkfost, who also pointed out that the number of addresses depositing BTC had dropped to a 10-year low. Profit Supply Nears Bear-Market Territory In a post published on X on April 9, Darkfost revealed that the share of Bitcoin supply still in profit was sitting way below the historical average of about 75%. “Nearly 1 BTC out of 2 is held at a loss,” they wrote. The analyst made clear the significance of that number, saying that for Bitcoin to maintain upward price pressure, it needed a healthy share of its investors to be sitting on gains. When so many of them are in the red, it shrinks the pool of willing sellers, making it harder to generate organic demand and causing prices to stall. According to the data, in the past, the 50% mark has acted as a rough threshold for market bottoms, and while the current figure is still above that level, the direction of travel is clear. Darkfost’s conclusion was direct: the current environment “appears more suited for accumulation than for selling,” with the strategy being to pick up BTC when losses reach extreme levels and only reducing exposure when the profit supply gets near 100%. Weakening Activity on Exchanges In a separate update, Darkfost also noted that the number of Bitcoin addresses depositing funds to exchanges had dipped to about 31,000 per day on a 30-day moving average, which is the lowest it has been since 2017. The on-chain technician attributed the fall to a mix of investor disengagement during a prolonged correction, price levels that give no incentive to sell, and a structural shift toward self-custody and decentralized platforms that has been building since the collapse of FTX. “Although such an environment is typically unfavorable in the short term, these phases often coincide with periods where selling pressure progressively exhausts itself,” the analyst explained. Analytics provider Glassnode also made a similar assessment, describing the current market environment as “subdued and low-conviction.” The platform also noted that spot activity was rather soft and that BTC was trading “inside the bear market value zone.” At the time of writing, the flagship cryptocurrency was changing hands near $71,000 after it retreated from a 3-week high close to $73,000, which had been driven by the announcement of a ceasefire between the United States and Iran, as well as reports emerging that Iran would require ships accessing the Strait of Hormuz to pay for their passage using crypto. The post Bitcoin Profit Supply Drops to 59%, Closing In on Bear Market Levels appeared first on CryptoPotato .

Most Read News

Sam Bankman-Fried drops retrial bid after 25-...
2026-04-23
Bio Protocol Gains Momentum as AI-Driven DeSc...
2026-04-23
Andre Cronje’s Flying Tulip adds withdrawal c...
2026-04-23
Whales Just Accumulated 800 Billion PEPE Toke...
2026-04-23
What On Chain Gambling Volume Reveals About C...
2026-04-23
Bitcoin To $140,000 And XRP To $7? Here’s Whe...
2026-04-23
GSR BESO ETF Launch: BTC, ETH, SOL Tracking
2026-04-23
BNB Price Prediction: If Crypto Is Dead, why...
2026-04-23

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.