52.3% in profit...Bitcoin had the power to endure

▲ Bitcoin (BTC) ©

With more than half of Bitcoin (BTC) holders still in profit, signals are being detected that the market has entered a 'slowdown in selling pressure' phase.

According to crypto media outlet Finbold on April 22 (local time), the proportion of Bitcoin supply in profit, based on on-chain data, was tallied at 52.3% on a 7-day moving average. This means that more than half of the Bitcoin is still in an unrealized profit state based on current prices.

This indicator is calculated by comparing each coin's last on-chain movement price with its current price. Based on the current Bitcoin price of approximately $78,000, more than half of investors are analyzed to be in a profit zone. However, compared to October 2025 when 99.66% of the total supply was in profit at an all-time high of $126,000, market enthusiasm has cooled considerably.

In past cycles, periods where the profit ratio fell to around 50% frequently appeared during bearish or correctional phases. This phase is characterized by an increase in the proportion of investors in loss, gradually reducing selling pressure, and often leads to a 'supply-demand stabilization phase' after some investors exit the market.

Currently, the circulating supply of Bitcoin is approximately 19.8 million. This indicator is calculated by reflecting the coin's value, not just its quantity, thereby showing the market structure including institutional and large investor positions. However, this indicator is used as a reference to gauge investor sentiment and position status rather than accurately predicting market bottoms.

Technically, mixed trends continue. Bitcoin is trading at $78,263, up approximately 3% over 24 hours, maintaining a short-term upward trend above its 50-day simple moving average of $70,718. Conversely, it remains below the 200-day moving average of $86,129, indicating that the medium-to-long-term resistance zone is still valid. The Relative Strength Index (RSI) is 61.31, which is not overheated but indicates moderate upward momentum.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*