This Tuesday, October 29, 99% of bitcoin (BTC) holders are in profit, according to CryptoQuant data.
At a time when BTC is negotiate At USD 72,350, more than 97.6% of all bitcoin holders have made profits on their investment to date, indicates the analysis firm Cryptoquant.
The last time more than 97% of bitcoin supply was in the green was June 5, before the price fell from over $71,100 to under $56,000 in a month. This data reflects a significant recovery and stability in the market that has not been seen since then.
The bitcoin market is expectant given the proximity to a new all-time high. The last ATH of BTC was $73,700, which means that Only $1,330 separates the current price from the all-time high recorded.
That 99% of bitcoin holders are in profit means that virtually all those who have held their BTC from any point in the past until now, They are getting a positive return on their investment. This phenomenon not only indicates a bull market but also renewed confidence in the digital currency.
BTC has already set new all-time highs in the currencies of at least five countries, as CriptoNoticias reported earlier.
The proximity to the last all-time high has generated an atmosphere of expectation and speculation. Investors and traders are attentive to any movement that could lead bitcoin to surpass its previous high.
The current price of bitcoin remains robust, reflecting sustained interest and demand that exceeds the supply available in the market. This balance is crucial to understanding why so many holders are currently in profit: the scarcity of bitcoin, coupled with a surge in demand, has driven up the value of each unit.
Added to this is that institutional investment in bitcoin has seen notable performance, especially through exchange-traded funds (ETFs) linked to BTC. Last week, there was a Over $4 Billion Influx into BTC ETFs.
