Glassnode: Over 90% of Bitcoin Supply Remains Profitable Amid Market Volatility
Glasnode data shows that despite recent Bitcoin price volatility, a significant portion of Bitcoin holders are still profitable - as of May, over 90% of Bitcoin supply was in profit. This trend suggests that holders are still maintaining their positions amid market volatility, reflecting Bitcoin's resilient support levels. In addition, Bitcoin's price action in 2024 resembles the volatile periods of previous years (especially 2017). Glassnode data also suggests that the Bitcoin market is experiencing support levels, which boosts holder confidence, even as the asset undergoes a typical cyclical correction.
