Glassnode Reports 96% of Short-Term BTC Holders in Profit

Glassnode, a blockchain analytics firm, recently released a report stating that 96% of short-term Bitcoin (BTC) holders are currently in profit. This is a significant increase from just a few months ago when the number was around 70%. The report also revealed that the number of long-term holders in profit has remained steady at around 90%.

This news comes as Bitcoin continues to experience a surge in price, reaching all-time highs of over $60,000 in March 2021. The cryptocurrency has been on a bull run since the beginning of the year, with many investors and analysts predicting that it will continue to rise in value.

So, what does this mean for Bitcoin investors? Essentially, it means that the majority of people who have bought Bitcoin in the past few months have made a profit. This is good news for those who are looking to sell their Bitcoin for a profit, but it also means that there may be less buying pressure in the market as people who are already in profit may be less likely to buy more Bitcoin.

However, it’s important to note that this report only looks at short-term holders, which Glassnode defines as those who have held Bitcoin for less than 155 days. Long-term holders, on the other hand, are those who have held Bitcoin for more than 155 days. The fact that 90% of long-term holders are in profit suggests that many people who have held Bitcoin for a significant amount of time have seen significant gains.

It’s also worth noting that while Bitcoin has been on a bull run recently, it’s still a highly volatile asset. The price can fluctuate rapidly, and there’s always the risk of a sudden drop in value. As such, it’s important for investors to do their own research and make informed decisions about whether or not to invest in Bitcoin.

Overall, Glassnode’s report is a positive sign for Bitcoin investors. The fact that so many people are currently in profit suggests that the cryptocurrency is still a valuable asset, and that there may be more room for growth in the future. However, as with any investment, it’s important to approach Bitcoin with caution and to do your own research before making any decisions.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
• Source: Plato Data Intelligence.