On-Chain Analysis: Are Bitcoin (BTC) Investors in Profit?

After Fed Chairman Jerome Powell’s messages to the press bitcoin It fell to $22,000. While many experts evaluate this turbulent process, in this article, we will take a look at the on-chain metrics and interpret the latest status of Bitcoin.

Short-Medium-Term Investors in Profit

Blockchain According to the chart in the latest report published by its follower Glassnode, the cost of short-medium-term investors is lower than the market price of BTC.

on-chain According to the data, the average cost of investors who bought Bitcoin in the last 6 months is $ 21,000. Longer in hand BTC The average cost of holding players is close to $19,000.

After Powell’s message that the interest rate increase could continue, it became difficult for the bulls in Bitcoin. Short-term investors who are already making profits can sell on the first move.

Liquidity Flow to Exchanges Improves

With the increase in interest rates, access to fiat finance became more difficult. The decline in dollar liquidity around the world also negatively affected the crypto markets. However, the limited decline in inflation seems to have led to the recovery of money flow to the stock markets.

The 30-day average of net money flows moving to the stock markets rose 34% since the first day of 2023 to $1.13 billion.

Although the data in question has recovered since the beginning of the year, Powell’s expectations for an additional rate hike message may change the balance again.

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