Bitcoin percent supply oscillator

"As the market approaches year-to-date highs, a notable portion of the previously ‘in-loss’ supply has rebounded into a ‘profitable’ state. The percentage of supply in profit has surged by a substantial 4.7 million BTC, equivalent to 24% of the total circulating supply. This data sheds light on the significant volume of coins that have changed ownership, falling within the cost range of $27,000 to $35,000.

With 81% of the supply now sitting in a profitable position, the market has shifted into a positive phase, surpassing the long-term average for this particular metric, indicated by the green line."