96% of Bitcoin Supply Now in Profit
Nearly 96% of Bitcoin supply is in profit, according to Glassnode, signaling strong bullish sentiment in the market.
- Glassnode reports 96% of BTC supply is in profit.
- Indicates strong investor confidence and market resilience.
- Could signal a potential continuation of bullish trend.
According to the latest data from on-chain analytics firm Glassnode, approximately 96% of the total Bitcoin supply is currently in profit. This means that the vast majority of Bitcoin holders are holding coins valued higher than their purchase price.
This metric often reflects the broader market mood. When such a high percentage of holders are in profit, it typically aligns with bullish momentum in the crypto space. Historically, these conditions are seen during strong uptrends or after periods of accumulation, suggesting continued investor confidence.
What This Means for the Market
A Bitcoin supply mostly in profit often coincides with reduced selling pressure. When holders are in profit, they are less likely to panic sell, which contributes to price stability and further growth potential.
Moreover, high profitability in the market may also attract new investors who see the trend as a positive signal. However, it’s worth noting that such extreme figures can also precede corrections if traders decide to take profits.
Still, this 96% mark is an impressive show of resilience for Bitcoin and hints that many participants are committed to holding rather than exiting positions.
Glassnode Data Reflects Strength in the Market
Glassnode’s report is a strong indicator of how well Bitcoin has recovered and performed, especially if compared to past cycles. This level of profitability was last seen during Bitcoin’s 2021 bull run, suggesting the current trend could still have momentum to continue.
It also shows that long-term holders have been rewarded for their patience, reinforcing the idea that Bitcoin remains a long-term asset with solid performance potential.
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