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

New whales have an average Bitcoin cost basis of $77,120, leaving BTC only 6.3% above their entry level at the $82,000 reference price. 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. 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. Bitcoin Profitability Indicator Approaches November 2022 Reading In an October 22 update, on-chain analyst Amr Taha reported that Bitcoin’s 365-day UTXO Block Profit/Loss Count Ratio average had dropped 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. 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 en...