Glassnode, a crypto-analytics firm, says that most Bitcoin (BTC), holders now see substantial returns on their investment.
Glassnode has released a report stating that “a majority of Bitcoin investors are holding profits they have not realized” following Bitcoin’s rise to $107,000.
Paper gains for holders now average 125%.
Bitcoin recovered to $107,000 after finding support at $98,300. This level is often used as a marker for local bull or bear regimes. The majority of investors were able to return into profits, as the total gains unrealized reached a stunning $1.2 trillion .”
Investors are not likely to liquidate their gains, based on the dominant behavior of the market. According to the report, the current Bitcoin price is less appealing for investors looking to take profits than it was when Bitcoin broke the 3-digit barrier.
This is reflected in declining realized profits, a continued downtrend in Liveliness, and Long-Term Holder supply climbing to a new all-time high. The decline in realized profits is also reflected by a continuing downtrend of Liveliness and a rise in Long-Term Holding supply to an all-time record high .”
Bitcoin’s current market capitalization is $2.13 trillion, which includes the digital assets circulating supply and the price at which it’s traded. BTC’s real cap is $958 billion, valuing each coin at its last traded price.
At the time of this writing, the flagship cryptocurrency asset was trading at $108,834, up by 2.97% in 24 hours.
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The post Glassnode Analytics: ‘Super majority’ of Bitcoin holders sitting on $1,200,000,000 in profits may be updated as new information becomes available.
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