According to the Glassnode chain report, more than 16.366 million BTC (83.6% of circulating supply) are in the black as market transactions reach year-to-date highs, which is the highest level since November 2021 (near all-time highs). However, the size of the unrealized profits held in these coins remains modest, as measured by the difference between the spot price and the coin's cost basis. The extent of unrealized profits held by investors has so far not been enough to incentivize long-term holders to sell, keeping total supply relatively tight.