According to the report of Blockchain analysis firm Glassnode, the number of profitable Bitcoins has reached record levels.
With the price of Bitcoin rising to its highest levels this year, the number of Bitcoins whose current value is higher than the purchase price to 16,366,000 rose.
According to the report published by Glassnode, these coins account for 83.6% of the circulating supply. To the bull market in 2021 It draws a similar image.
While this ratio has a historical average of 74%, falling below 58% (in price) represents bottom discovery periods, being in the range of 58-90% represents bear/bull market transition periods, and being above it represents the “enthusiasm” stages in the bull market.
It was stated that the cryptocurrency market, which is trying to overcome the bear trend in 2022, has been in a bear/bull transition process for 10 months.
Although the majority of coins in circulation are profitable, most of them are The difference between the purchase price and current value It was found that it was not large. 14.9 million of them long-term While it was announced that it belonged to users, the following analysis was included about investors:
“This mobility has historically been the market’s to break new records It shows that holdover (Bitcoin) holders are becoming increasingly reluctant to dispose of their coins. This is before investors increase selling pressure. higher rates of unrealized profit “It can be explained by the need.”