Bitcoin’s next $80,000 breakout has $47 billion more profitable supply to absorb

Bitcoin trades near $77,381, and Glassnode says 68% of circulating supply now sits in profit at this level, up from 65% when BTC traded here in May.That three-point gap works out to roughly 600,000 additional BTC, an estimate worth about $47 billion at current prices, that could be sold for a gain before Bitcoin even reaches its next major resistance band.Bitcoin summer accumulation built the floor and the overhang at onceThe short-term holder cost basis now sits near $71,000, reset lower by months of trading through the June-to-August range. Buyers who accumulated during that stretch are already profitable at today's price, well before Bitcoin revisits its highs.The same accumulation that steadied Bitcoin's floor through the drawdown also built a larger pool of holders with real gains to protect as it moves back up.Glassnode's latest report identifies heavy long-term holder supply concentrated between $83,000 and $86,000, and the firm's prior research quantified that band at roughly 1.05 million BTC.Those coins belong to holders who sat through the entire drawdown without selling, and a return to that zone would make them whole for the first time since the correction began.Bitcoin...