Bitcoin While the price is struggling to clearly surpass the $38,000 level, trends in the market remain positive. Although the bulls tried to surpass the $40,000 level, they continue to fail and lose strength. IntoTheBlock data provides important details about the situation of investors.
Three of the seven basic technical data are bearish, while three are neutral. Only one piece of data (profit-making investors) supports the bull view.
When looked at in detail, the data for “net network growth”, “large transfers” and “Volume at purchase price – Volume at sales price” appear bearish.
In the “Global In/Out of the Money” metric, if Current Price > Average Cost, the address is “In the Money”. If Current Price < Average Cost, the address is “Out of the Money”. This metric reveals that nearly 84% of investors are "in the money", nearly 15% are "out of the money" and 1.35% have neither profit nor loss.
Looking at the data, as of November 24, 13.79 million Bitcoins have been held by wallets for more than 1 year. While 4.47 million BTC is held for 1-12 months, 1.3 million BTC is held by “traders” who hold it for less than 1 month.
When looking at historical data, the “bull” data in the last seven days showed “100”, while the bears’ data was recorded as “103” with a slight advantage.
Bitcoin market value has generally been on an upward trend in the last six months and is around $728 billion. The value had recorded a 52-week peak with $739 billion 10 days ago.