LATEST: CryptoQuant says Bitcoin's supply in profit climbed to 57.5% as of July 22, up from a 2026 low of 46.2% in June, though a recovery isn't confirmed yet.

What happened

CryptoQuant reported that the share of Bitcoin held at a profit rose to 57.5% on July 22, up from a June low of 46.2%, but it did not confirm that a price recovery has begun.

Confirmed

Global impact / market context

A larger proportion of profit‑making holders suggests potential buying pressure if they hold, yet without a confirmed price rise the upside remains uncertain, influencing investor risk assessments and allocation choices.

Analyst inference

Bitcoin’s profit‑ratio improvement follows a recent price dip, and while the metric is better, the lack of clear upward movement keeps traders cautious and volatility elevated as the market seeks sustained gains.

Analyst inference

What to watch

1. If the profit‑ratio keeps climbing, it could indicate growing holder confidence and may provide price support, prompting investors to consider adding Bitcoin exposure. Analyst inference
2. A confirmed bounce in Bitcoin price after July 22 would validate the profit‑ratio rise as a leading signal, influencing short‑term trading decisions. Analyst inference
3. Changes in other on‑chain data such as transaction volume or miner revenue could either reinforce or contradict the profit‑ratio signal, affecting overall market sentiment. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• x.com