According to market analyst Darkfost, Bitcoin’s price-based supply distribution reveals critical zones that could determine the asset’s near-term trajectory. This latest key piece of on-chain data provides a clearer picture of where the market could be heading, following the positive price action seen in early April.
61% of BTC supply is making a profit despite bear season
In one X message on April 11, Darkfost will share insights into Bitcoin’s price structure based on its supply distribution pattern. At current prices, the renowned expert reports that approximately 61% of Bitcoin’s circulating supply was acquired below the spot price, leaving 39% bought at a higher level. This positioning suggests that a majority of market participants continue to make profits, a condition often associated with a more constructive market structure.
Interestingly, further data analysis shows a notable concentration of investor activity between $65,000 and $70,000. While this zone reflects both buying and selling activity rather than pure accumulation, it still represents an important area where a significant volume of coins last changed hands. Since this range is below the current price, it is interpreted as a potential support floor and a good accumulation zone for smart money investors.
Here is a snapshot of BTC’s supply distribution based on price.
At current price levels, 61% of BTC was acquired below this level, while 39% was purchased at higher prices.
︎ We can observe a clear cluster of investor activity between $65,000 and $70,000. I refer to activity… pic.twitter.com/gDMbEPTjUN
— Darkfost (@Darkfost_Coc) April 11, 2026
On the upside, a similar cluster of activity has emerged between $90,000 and $95,000, which Darkfost expects could act as a formidable resistance level. This is because market participants who purchased Bitcoin in this price range are likely to exit their positions once prices return to their cost basis, creating a barrier to further upward movement.
However, Darkfost warns that not all activity clusters carry the same weight. The analyst considers the $85,000 region non-sequential from a technical perspective, despite showing increased transaction volume. This is largely due to the influence of exchange-related transfers, especially a substantial transfer of almost 800,000 BTC from Coinbase, which skews the data and does not reflect genuine investor sentiment or belief.
Bitcoin price pocket is above $75,000
Another key insight from the supply map is the presence of a relatively low activity zone, often called an “air pocket,” above $75,000. Within this range, Bitcoin has historically seen limited trading activity, which poses fewer barriers to price movement. As a result, if Bitcoin enters this zone with enough momentum, it could quickly move through it or undergo a brief consolidation phase before continuing to rise. At the time of writing, the leading cryptocurrency is trading at $71,535, up 6.45% in the past seven days.