According to market analyst Darkvost, the distribution of supply based on Bitcoin’s price reveals critical areas that could determine the asset’s near-term trajectory. This latest piece of important on-chain data provides a clearer picture of where the market may be headed following the positive price action observed in early April.
61% of Bitcoin supply generates profits despite bear season
in Share X On April 11, Darkvost shared insight into Bitcoin’s price structure based on its supply distribution pattern. At current prices, the renowned expert reported that approximately 61% of the circulating supply of Bitcoin was acquired at a price below the spot price, resulting in 39% being bought at higher levels. This situation indicates that the majority of market participants remain in a profitable state, a state often associated with a more positive market structure.
Interestingly, further analysis of the data reveals a notable concentration of investor activity in the $65,000 to $70,000 range. While this area reflects buying and selling activity rather than pure accumulation, it still represents a key area where a large amount of coins was last traded. Since this range is below the current price, it is interpreted as a potential support floor and a good accumulation area for smart money investors.
Below is a snapshot of the distribution of BTC supply by price.
At current price levels, 61% of Bitcoin was bought below this level, while 39% was bought at higher prices.
︎ We can observe a clear cluster of investor activity between $65,000 and $70,000. Point to the activity… pic.twitter.com/gDMbEPTjUN
– Darkfost (@Darkfost_Coc) April 11, 2026
On the upside, a similar band of activity has emerged between $90,000 and $95,000, which DarkFost expects could serve as a massive resistance level. This is because market participants who acquired Bitcoin at this price range will likely exit their positions once prices return to their cost basis, creating a barrier to further upward movement.
However, Darkvost cautions that not all activity groups carry the same weight. The analyst considers the $85,000 area technically out of sequence, despite showing high transaction volume. This is largely due to the impact of exchange-related transfers, most notably the large transfer of nearly 800,000 bitcoins from Coinbase, which distorts the data and fails to reflect investors’ true sentiments or convictions.
The price of Bitcoin lies in the pocket above $75,000
Another key takeaway from the display map is the presence of a relatively low-activity area, often referred to as an “air pocket,” which is worth more than $75,000. In this range, Bitcoin has historically seen limited trading activity, meaning there are fewer barriers to price action. As a result, if Bitcoin enters this zone with enough momentum, it can either move through it quickly or go through a short consolidation phase before continuing higher. At press time, the flagship cryptocurrency is trading at $71,535, up 6.45% over the past seven days.
