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Bitcoin Surge Pushes Nearly All Investors into Profit

09.11.2024 21:00 2 min. read Kosta Gushterov
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Bitcoin Surge Pushes Nearly All Investors into Profit

Bitcoin’s recent climb to a new all-time high has sparked significant profits across the market, with both retail and institutional investors reaping the benefits.

Data from Alphractal reveals that 99.9% of Bitcoin addresses are currently in profit, highlighting the widespread positive sentiment toward the cryptocurrency and solidifying its position as the leading digital asset in the market.

This milestone reflects Bitcoin’s ongoing upward trend, which has seen nearly all addresses holding BTC register gains. However, Alphractal notes that during similar periods of widespread profitability, the market has often experienced brief corrections, suggesting that while Bitcoin is showing strength, a pullback could be imminent.

Still, the sustained accumulation and confidence in Bitcoin’s future performance could help support continued price growth.

In addition to the increasing number of profitable addresses, Bitcoin’s average profitability index has surged by over 221%, nearing levels seen during previous bull cycles. Investors are now seeing an average return of 121% on their investments, signaling strong market confidence.

At the time of writing, Bitcoin is trading at $76,090, marking an 8% increase in the past week and 22% over the past month, further fueling optimism for continued growth in the coming weeks.

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