Bitrabo Editorial
Recent blockchain data indicates that approximately 91% of Bitcoin investors are currently experiencing profits, thanks to a significant price increase towards the $66,000 mark.
Bitcoin’s Recent Positive Momentum
Bitcoin has started the week strongly, witnessing a 4% rise that brings it back to its late-month highs. The following chart illustrates the recent performance of the cryptocurrency.
During this rally, Bitcoin reached a peak of $66,500 but has since seen a minor drop, with current trading around $65,500, indicating a relatively stable valuation.
This rise in Bitcoin’s value has obviously impacted investor profitability, as recent data has shown.
Majority of Bitcoin Holders Are in Profit
Insights from the analytics platform IntoTheBlock reveal that 91% of Bitcoin holders are realizing some unrealized gains. The firm has detailed the distribution of BTC holders relative to their purchase prices.
The chart depicts that larger dots, representing significant holdings in certain price ranges, have turned green, signifying that many addresses are now at a profit after the recent price recovery.
It’s also apparent that the dots representing potential selling pressure remain small—indicating that only 9% of investors are currently at a loss. This group could respond to price rebounds by selling off, which might create resistance in potentially high-demand areas.
While the price ranges above present low selling pressure, Bitcoin might still encounter challenges in breaking through to set new all-time highs due to widespread profitability among investors. A mass selloff for profit-taking is a real risk as profits are substantial for many.
In related news, Bitcoin “whales,” or entities holding between 1,000 and 10,000 BTC, have been actively accumulating coins this year, as highlighted by an analyst in a CryptoQuant Quicktake post.
Graphs indicate that the 30-day changes in these whales’ holdings have generally shown positive movement throughout the year, reflecting continuous buying trends.