99.9% of #Bitcoin Supply Is in Profit - What Does It Mean ?

Bitcoin’s current price is above almost every historical purchase level. This means that 99.9% of the total supply is in profit. But that alone isn't enough.

What truly matters is 👉 at which price levels is this supply concentrated ?

What Is UTXO and Why Does It Matter ?

UTXO (Unspent Transaction Output) represents the on-chain “cost basis” of each Bitcoin. It shows at what price each BTC was last moved essentially, when it was bought.

This data helps us see where major cost concentrations are, or in other words, where supply clusters exist.

Not All Price Drops Are Created Equal

As the chart shows, some price levels like around $98K have significant clusters of purchased $BTC . These are potential resistance zones.

Example:

– At $98K, only 90% of supply remains in profit.

– At $96K, that drops to 85%.

This means:

Not every price drop has the same impact.

Some zones are “empty,” while others are “heavily cost-loaded.”

What Did the Same Data Say in March ?

Back in March, this data showed a UTXO “gap” all the way down to $76K a price region with little historical buying. That implied the price could move quickly down to that level and it did.

What Does It Say Today ?

We're in a similar position now. There’s currently no major supply barrier ahead, suggesting room for further upside.

But don’t forget:

In the event of a correction, the $98K–$96K range stands out as a critical zone of support/resistance.

Thanks for support & reading.😍 #bitcoin100k