Higher

bullish

Bitcoin

when

<p>Bitcoin’s long-term profitability indicator has fallen close to levels last seen in November 2022, when BTC traded near $16,000, even as the cryptocurrency remains near $82,000 in October 2026.</p>
<p>On-chain data points to a sharp gap between today’s price and investors’ profit conditions, while newer large holders have a much thinner cushion than Binance deposit addresses.</p>
<h2 id="bitcoin-profitability-indicator-approaches-november-2022-reading">Bitcoin Profitability Indicator Approaches November 2022 Reading</h2>
<p>In an October 22 update, on-chain analyst Amr Taha reported that Bitcoin’s 365-day UTXO Block Profit/Loss Count Ratio average had <a href="https://cryptoquant.com/insights/quicktake/6ad98be93f9ac34d1048df38-Bitcoin-Profitability-Nears-2022-Levels-as-Binance-Cost-Basis-Holds-at-64200" rel="noopener noreferrer nofollow">dropped</a> to 13.6, just 14.1% above its November 21, 2022 reading of 11.92. BTC was trading near $16,000 at the time of the earlier reading, compared with more than $82,000 on October 20, 2026.</p>
<p>The cost-basis figures show that not all groups of holders are in the same position. Binance user deposit addresses have a realized price of around $64,200, leaving BTC about 27.7% above that level. New whales, by contrast, have an average cost basis of $77,120, putting the asset just 6.3% above their entry price at the $82,000 reference point. Miner whales and long-term holder whales have lower realized prices of $51,820 and $46,400, respectively.</p>
<p>Taha also pointed to slower growth in Bitcoin’s realized capitalization, a measure based on the price at which units last moved. Its 30-day change reached $12.93 billion on October 22, well below the $40 billion recorded on October 15, 2025, and the $64 billion reading on July 24 that year. Those earlier peaks came before a roughly 52% decline, the analyst noted, although the current positive figure means realized capitalization is still expanding.</p>
<h2 id="btc-supply-in-profit-turns-higher">BTC Supply in Profit Turns Higher</h2>
<p>Bitcoin recently <a href="https://cryptopotato.com/zec-skyrockets-by-13-in-24-hours-btc-price-reclaims-83k-market-watch/" rel="noopener noreferrer nofollow">rebounded</a> above $83,000 after slipping toward $80,000, but CoinGecko’s figures at the time of writing put it over 200 bucks <a href="https://cryptopotato.com/bitcoin-plunges-over-3k-after-85k-rejection-altcoins-get-hit-harder-market-watch/" rel="noopener noreferrer nofollow">below</a> $82,000, down almost 2% in the last 24 hours and nearly 4% in the last 30 days. The OG cryptocurrency is also 24% below its level a year ago and 35% away from its all-time high of over $126,000.</p>
<p>A separate October 22 post from analyst Facundo Fama offered a more constructive historical comparison. Bitcoin’s supply in profit <a href="https://cryptoquant.com/insights/quicktake/6ad8f59f3f9ac34d1048c907-Bitcoin-Supply-in-Profit" rel="noopener noreferrer nofollow">rose</a> during the third quarter of 2026, the first bullish quarter following a downtrend since Q1 2023. In that earlier period, the supply in profit increased from 9 million BTC to more than 14 million, before a broader uptrend continued through 2025.</p>
<p>The post <a href="https://cryptopotato.com/bitcoin-profitability-nears-2022-lows-as-btc-price-slumps-below-82k-analyst/" rel="noopener noreferrer nofollow">Bitcoin Profitability Nears 2022 Lows as BTC Price Slumps Below $82K: Analyst</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Bitcoin Profitability Nears 2022 Lows as BTC Price Slumps Below $82K: Analyst

Table of Contents

CryptoPotato_News

Other articles published on Oct 22, 2026

Join our free newsletter for daily crypto updates!