Bitcoin Supply In Profit Sees Sharp Decline With Market Crash – Here Are The ...
The Bitcoin supply in profit has seen a sharp decline amid the latest crypto market crash. This has raised concerns that BTC could suffer a further crash, as holders who are in the red may move to offload their coins. Bitcoin Supply In Profit Drops Amid Market Crash On-chain analytics platform Glassnode revealed in a report that the Bitcoin supply in profit has historically dropped to around 85%, with 15% of the supply sitting at a loss. This has occurred whenever the BTC price breaks down from a new all-time high (ATH) and trades around the short-term holders’ cost basis, as is happening....
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On-chain data shows the Bitcoin Supply in Profit has taken a significant hit following the crash the cryptocurrency has seen recently. Bitcoin Supply In Profit Dropped To Around 81% During The Crash As explained by an analyst in a CryptoQuant Quicktake post, the latest drawdown in the cryptocurrency has resulted in a portion of the […]
On-chain data shows the Bitcoin Supply in Profit has witnessed a sharp increase recently. Here’s whether the current level is considered high or not. Bitcoin Supply In Profit Has Crossed The 87% Mark According to the latest weekly report from Glassnode, the Bitcoin Supply in Profit has marked an improvement alongside the latest rally in […]
Data shows the Bitcoin supply in profit has continued its decline, but the metric has still not reached levels as low as the previous bear market bottoms. Around 50% Of The Bitcoin Supply Is In Profit At The Moment According to the latest weekly report from Glassnode, the current profitability levels in the BTC market are still above the 40%-42% values that were observed during historical bottoms. The “percent supply in profit” is an indicator that measures the total percentage of the Bitcoin supply that’s currently holding some unrealized profit. The metric works by....
On-chain analytics firm Glassnode has explained how the latest Bitcoin selloff is different from the LUNA and FTX crashes of 2022. Bitcoin Supply In Profit Trend Is Structurally Different For The Latest Crash In a new post on X, Glassnode has discussed how the recent bearish action in BTC compares against some of the past crashes. The analytics firm has used the Percent Supply in Profit to make the comparison. This on-chain indicator measures, as its name suggests, the percentage of the total Bitcoin circulating supply that’s sitting on some net unrealized gain right now. Related....
Bitcoin mining has been seeing a decline in profitability in recent times. This comes as no surprise given the drop in the value of the token and since profitability largely depends on what price BTC is trading at, it has led to a decline in cash flow. As the ripple effects of the market crash […]