Bitcoin’s next $80,000 breakout has $47 billion more profitable supply to absorb

Bitcoin is trading near $77,381, with a larger share of its circulating supply currently held at a profit than when the cryptocurrency last traded around this level in May. Glassnode data cited by CryptoSlate shows that 68% of circulating Bitcoin supply is now profitable, compared with 65% in May. The three-percentage-point increase represents approximately 600,000 additional BTC that could potentially be sold at a gain before the market reaches the next major level. At Bitcoin’s current price, that supply is valued at about $47 billion. The data highlights the amount of profitable supply the market may need to absorb if Bitcoin advances toward $80,000. The figures describe current on-chain profitability and do not indicate whether holders will sell or establish a timing for any move.