Bitcoin Price Sits Near $78K as 68% of Supply Turns Profitable, Armstrong Targets $400K

• Bitcoin price is holding near $78K, while Glassnode says 68% of supply is now in profit
• Spot Bitcoin ETFs saw about $283 million in net outflows, adding pressure as BTC struggles with resistance near $83K–$85K
• Coinbase CEO Brian Armstrong says $400K by 2030 is a reasonable Bitcoin price prediction, implying more than 400% upside from current levels

Bitcoin price is holding near $78,000, but the market underneath it looks more crowded. Glassnode says 68% of supply is now in profit, leaving more holders sitting on unrealized gains than during Bitcoin’s last visit to similar levels. At the same time, Coinbase CEO Brian Armstrong is taking a much longer view, calling $400,000 by 2030 a reasonable target.

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Bitcoin Price Faces More Profit-Taking Near $85K

Glassnode’s latest data shows 68% of Bitcoin supply was in profit around $78,000, compared with roughly 65% when BTC traded near the same level in May. This matters because a larger pool of profitable coins can translate into more selling pressure as the price pushes higher. The firm further wrote,

“This shift reflects summer accumulation that reset the Short-Term Holder Cost Basis near $71K. Identical nominal prices now activate a larger volume of profitable coins, creating an expanded pool of latent sell-side liquidity when spot tests prior highs.“

The firm also sees a heavy resistance zone around $83,000 to $85,000, where long-term holder supply and other cost-basis clusters begin to stack up. Bitcoin has already struggled to clear that area, leaving the market in a fairly narrow range despite the recent rebound.

Institutional demand has also cooled. US spot Bitcoin ETF products recorded about $283 million in net outflows on September 10, marking a third straight day of withdrawals, according to SoSoValue data.

This leaves the near-term setup fairly simple. Bitcoin needs fresh demand to absorb profitable supply and make another run at the mid-$80,000s.

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Coinbase Bitcoin Outlook Still Points Much Higher

Brian Armstrong is looking well beyond that resistance. The Coinbase CEO said he believes the latest Bitcoin cycle has already bottomed and expects the next one to two years to be constructive. Asked whether $400,000 by 2030 was still realistic, he called it a “reasonable target.”

From around $78,000, that Bitcoin price prediction implies a gain of more than 400%. At press time, the king coin was trading at $77,258.87 following a 1.5% drop over the past 24 hours.

The contrast is hard to miss. Bitcoin profit levels are already high enough to create near-term resistance, while Armstrong’s long-term view assumes several more years of adoption and market expansion. Currently, the first test is much closer than $400,000. Bitcoin still has to turn $83,000 to $85,000 from a ceiling into support.

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