That’s not hodling! Over 50% of Bitcoin addresses still in profit
Hodlers have not needed to hodl hard enough, data covering historical bear markets shows. More than half of Bitcoin (BTC) addresses are still in profit, raising questions about the severity of the current “bear market.”Data from on-chain analytics firm Glassnode confirms that as of June 20, 56.2% of addresses were still worth more in U.S. dollar terms than when their coins entered them.Profitability fails to match previous market bottomsAs BTC/USD fell to 19-month lows of $17,600 over the weekend, analysts braced for what they assume will turn out to be a retracement of up to 84.5% from....
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Long-term holders are continuing to accumulate BTC while short-term speculators are selling. According to research by on-chain analytics provider, Glassnode, 95% of the Bitcoin changing hands last was last moved less than three months ago on the blockchain.Glassnode’s March 15 The Week On-Chain report found that just 5% of spent outputs are more than 90 days old, indicating the vast majority of BTC moving on-chain are “young coins.” Other data from Glassnode has found that addresses that have been hodling BTC for at least three years have significantly increased their holdings over the....
Addresses holding amounts of bitcoin worth more than $1 million are on the rise.
The report by Glassnode also revealed that up to 60% of the transaction volume is in what it calls “profit dominance”, and long-term holders are the most likely to be in the green. The price of Bitcoin (BTC) has been on the decline again recently, but new insights from blockchain analytics firm Glassnode show that up to 75% of Bitcoin addresses are in profit.In its Week-On Chain report published on Monday, April 11, Glassnode analyzed the number of Bitcoin wallets that are in profit and found that around 70% to 75% of addresses are seeing an unrealized profit, much higher than the 45% to....
The supply-side dynamics of the Bitcoin network continue to demonstrate strong adoption as there are now more addresses with a positive BTC balance than ever before. On-chain statistics through February have suggested positive sentiment for Bitcoin as addresses with a non-zero balance of BTC reached an all-time high.Additionally, those wallets with a positive BTC balance are increasingly hodling their coins. The amount of BTC circulating supply last moved between three and five years ago reached a four-year high of just over 2.8 million coins, according to data from on-chain analytics firm....
An on-chain indicator, notorious for accurately predicting Ether tops, returns amid the ongoing price rally. Ethereum's native asset Ether (ETH) crossed above $3,000 in an extended upside rally on Aug. 7, hitting a three-month high. Nevertheless, the cryptocurrency's incredible move upside also boosted its possibilities of facing a bearish backlash.An on-chain indicator that tracks the total percent of Ethereum addresses in profits predicted the said downside outlook. In detail, the so-called "Ethereum: Percent of Addresses in Profits" indicator by Glassnode reached 96.4% amid the ETH/USD....