UTXO in Profitto

Every UTXO is a receipt with a price tag: the market price at the moment it was created (when the last transfer settled) is its cost basis. UTXOs in Profit % = the number of UTXOs whose creation price sits below the current market price, divided by all UTXOs in existence. Note the unit of account is receipts, not coins — this page differs from Supply in Profit (which counts how many BTC are in the green) and Realized Profit (which counts dollars already banked by selling). Count, coin-volume, and realized-cash are three distinct dimensions, and they frequently tell different stories.

Volume-based metrics are inherently dominated by whales and exchange wallets — a handful of giant UTXOs can swing the reading. A count-based metric is one-receipt-one-vote: it approximates how many individual position slips are in profit, giving a more democratic read on the retail-sized holder base. When the two lenses diverge — count share high while coin-volume share lags, or the reverse — it means small holders are broadly in profit while large ones are trapped, or vice versa. The divergence itself is structural information.

The data provider bitcoin-data.com offers these empirical guides: readings above 90% mean nearly every position slip is in profit — historically a bull-market overheating zone, since a market where everyone is winning is rarely far from a profit-taking cascade. Readings below 50% mean most receipts are underwater — bear-market bottoms and capitulation. The 50% line is the psychological watershed. Within this site's window, mid-December 2024 (as price printed all-time highs) saw the ratio touch the vicinity of 100% — almost no losing receipt existed on the network.

UTXO count is not people: one wallet can hold hundreds of UTXOs, exchange hot wallets thousands; and the inscription/runes waves since 2023 mass-produced small UTXOs that dilute and distort count statistics. In fast markets, watch the at-the-money effect — freshly created UTXOs carry cost bases almost equal to spot and flicker across the profit line, adding jitter. Bottom line: use this page for trend and extremes, don't over-read precise percentages, and always cross-check against the coin-volume-based supply-in-profit page.

Alongside holder behavior, watch short-term leverage via BTC liquidations and funding rates.