CryptoQuant: Bitcoin Profit Supply Holds Near 60% Excluding 10-Year Dormant Coins

The methodological point here matters more than the headline number: stripping out decade-dormant coins reframes the profit-supply gauge, since that cohort is deeply profitable, illiquid and likely lost, and would otherwise distort the read. That leaves a measure suggesting the market is far from overheated, which is why consolidation around current levels looks reasonable rather than stretched. The open question is whether supply-demand dynamics push holders toward taking profit or toward exiting at limited losses — that split, not the headline figure, is what will shape the next phase.