$BTC Bitcoin's recent price rebound above $99,000 has sent millions of BTC back into profit territory. According to Glassnode, a leading financial and on-chain data platform, over 3 million BTC are now back in the profit zone. This development is likely to bolster investor confidence and strengthen market sentiment about the sustainability of the recent rally.

*Key Statistics:*

- *Percentage of Bitcoin's overall supply in profit:* 88%

- *Current trading price:* $10,7000

- *Trading volume increase:* over 60% in the past day

- *Short-term holders' cost basis:* $93,400, which serves as a solid base against pullbacks

*Market Analysis:*

The return of previously underwater BTC holdings into profit territory could set the stage for a potential sustained upside movement to crucial levels such as $100,000. However, short-term holders are persistently distributing their holdings, raising questions about a potential short-term pullback ¹.