Crypto:
30336
Bitcoin:
$64.961
% 0.03
BTC Dominance:
%54.2
% 0.09
Market Cap:
$2.37 T
% 0.16
Fear & Greed:
60 / 100
Bitcoin:
$ 64.961
BTC Dominance:
% 54.2
Market Cap:
$2.37 T

Bitcoin Market Sparkle Returns After Months, According to Glassnode

Bitcoin,Btc

As Bitcoin (BTC) price regains its footing, nearly all long-term investors are now in profit.

A report by blockchain analytics firm Glassnode examined the profit/loss status of long-term and short-term investors.

Barely Any in Loss

On June 4th, Bitcoin’s price was trading in the $68,000-$69,000 range. According to Glassnode data, only 0.03% of Bitcoins held for at least 155 days were “in the red.”

It is assumed that the investors still in loss, as this range goes back to March, are those who bought at the peak during the bull market of November 2021 and have not yet sold their Bitcoin. These wallets hold a total of 4,900 Bitcoin.

Long-term investors hold 0.3% of the total Bitcoin in loss. Long-term investors, on the other hand, own over 85% of the total supply in profit.

If Bitcoin trades above $70,000 for a few more weeks, all long-term investors will be in profit.

Short-Term Investors Bear the Burden

Short-term investors make up the majority of addresses in loss. These investors largely bought Bitcoin before it broke its price record in March.

Glassnode stated that short-term investors “shoulder most of the market’s losses.” It noted that this is “generally observed in bull market corrections after new price highs are reached.”

Bitcoin’s Price Rise Revives Excitement

Bitcoin’s price rise has revived excitement in the market. Glassnode said, “The first sparks of market speculation are returning after prices consolidated for a few months.”

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