rewrite this title Glassnode Flags Warning as Nearly All BTC Turns Profitable

While this marks a positive milestone, the firm also notes a few factors that could bring short-term risk.

According to the latest analysis, about 97% of Bitcoin’s total supply is worth more than when it was acquired. This level of profitability often appears near the later stages of price surges, where momentum can slow as some holders begin to sell and secure gains.

However, rather than abrupt selling, Glassnode sees signs of steady and controlled profit-taking, which points to a more stable market environment.

Their data suggests that many investors are rebalancing their portfolios gradually, instead of reacting with sudden exits. This behavior typically aligns with strong market cycles, where demand remains healthy and supports prices even as some participants take profits.

One of the tools Glassnode used, a cost basis heatmap, shows mild support in the $120,000 to $121,000 range, and stronger interest around $117,000, where a large volume of Bitcoin, about 190,000 BTC, was last transacted.

If Bitcoin’s price falls back to these levels, it may attract renewed buying, especially from investors aiming to protect their recent gains.

On October 8, Pantera Capital’s Cosmo Jiang shared his thoughts on how investors have yet to engage with Bitcoin following its recent price records. What did he say? Read the full story.