Recent data reveals that despite Bitcoin's price dropping below $60,000 due to significant selling by major entities like the German and US governments over the weekend, a substantial 83% of all Bitcoin holders remain in profit.
According to insights from the on-chain tracker IntoTheBlock, out of approximately 53.57 million Bitcoin investors globally, the majority, comprising 83%, are currently experiencing gains even after the recent market turbulence.
This statistic leaves about 17% of holders not in profit: 13% are facing losses from purchasing BTC at higher prices, while 4% are at breakeven.
These figures indicate that around 44.61 million Bitcoin holders continue to benefit from their investments, notably those who entered the market below the $50,000 mark. Despite the recent market volatility, this majority remains in profit, illustrating resilience in Bitcoin’s long-term investment appeal.
However, there is a notable trend affecting long-term holders, with average returns potentially dipping into losses for the first time in over a year.
According to Santiment, these periods are typically favorable for buying, particularly when “Bitcoin’s 30-day and 365-day MVRV show negative readings.” This development is historically seen as a favorable buying opportunity.
Historical data suggests that buying during periods when Bitcoin’s long-term holder returns are negative has historically yielded substantial returns, highlighting potential opportunities for savvy investors to enter the market.
Metaplanet is aggressively expanding its Bitcoin holdings through an unconventional $5.4 billion capital raise, positioning itself as a leading BTC proxy in Asia.
BlueBird Mining Ventures, a London-listed firm traditionally focused on gold, is making headlines after announcing it will liquidate its gold reserves and begin accumulating Bitcoin as a treasury asset.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.