Glassnode Flags Warning as Nearly All BTC Turns Profitable

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Glassnode Flags Warning as Nearly All Bitcoin Turns Profitable

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 09, 2025

Key Takeaways

97% of Bitcoin supply is in profit, a sign of market strength but also a common stage before slowdowns or short-term corrections;
Glassnode sees no panic selling, which suggests stable market behavior during this rally;
Support levels near $117,000 could attract buyers if prices dip, as many holders bought Bitcoin around that range.

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Glassnode Flags Warning as Nearly All Bitcoin Turns Profitable

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Glassnode, a blockchain data firm, has reported that nearly all circulating Bitcoin BTC $87,864.18 is currently held at a profit.

While this marks a positive milestone, the firm also notes a few factors that could bring short-term risk.

According to the latest analysis, about 97% of Bitcoin’s total supply is worth more than when it was acquired. This level of profitability often appears near the later stages of price surges, where momentum can slow as some holders begin to sell and secure gains.

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However, rather than abrupt selling, Glassnode sees signs of steady and controlled profit-taking, which points to a more stable market environment.

Their data suggests that many investors are rebalancing their portfolios gradually, instead of reacting with sudden exits. This behavior typically aligns with strong market cycles, where demand remains healthy and supports prices even as some participants take profits.

One of the tools Glassnode used, a cost basis heatmap, shows mild support in the $120,000 to $121,000 range, and stronger interest around $117,000, where a large volume of Bitcoin, about 190,000 BTC, was last transacted.

If Bitcoin’s price falls back to these levels, it may attract renewed buying, especially from investors aiming to protect their recent gains.

On October 8, Pantera Capital’s Cosmo Jiang shared his thoughts on how investors have yet to engage with Bitcoin following its recent price records. What did he say? Read the full story.