Currently, 88% of Bitcoin’s circulating supply is in profit, with only those who bought between \$95K–\$100K (Dec–Feb) still at a loss. This binary metric tracks whether coins are in profit or loss based on purchase price—unlike MVRV, which measures the size of unrealized gains or losses. Like MVRV, it has recently rebounded from its long-term average, signaling a clear reset in investor sentiment.