Bitcoin Holders’ Estimated On-Chain Net Profit Reaches $7.86B in October as BTC Falls 7%

Bitcoin (BTC) holders recorded an estimated $7.86 billion in on-chain net realized profit in October even as BTC fell 7%, showing gains on transferred coins during a losing month. Every asset tracked in the October tally ended the month lower. Bitcoin’s decline added to pressure on its “Uptober” narrative , a market label tied to the asset’s historically strong October performance. The price drop and the on-chain profit figure measure different things, so both can hold true for the same month. The profit measure compares a coin’s price when it moves with its price at its previous transfer. It treats the new transfer as a presumed sale, making the $7.86 billion an estimate of net realized profit rather than a record of actual sale proceeds.

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