Update
Bitcoin Profitability Near 2022 Lows
Bitcoin's profitability indicator has dropped to levels similar to November 2022, despite the current price being over $82,000. New large holders have a thinner profit cushion compared to Binance deposit addresses, with average cost bases significantly affecting their positions. Bitcoin's supply in profit increased during Q3 2026, marking the first bullish quarter after a downtrend since Q1 2023, indicating potential for future growth.