Crypto analyst Darkfost’s estimate places less than 45% of Bitcoin’s adjusted supply in profit, indicating that the counted pool tilts toward loss classifications after older dormant coins are removed.
The estimate focuses on Bitcoin that moved within the past decade; Darkfost treats most older dormant coins as illiquid. The under-45% reading applies to the adjusted supply remaining after those coins are excluded, not to all Bitcoin.
In Darkfost’s historical comparisons, readings below 40% have often appeared near the low points of market pullbacks. The analysis also treats readings approaching 100% as a signal of greater reversal risk.
