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Most Bitcoin Holders Remain in Profit Amid Recent Market Trends

23.07.2024 10:30 2 min. read Alexander Stefanov
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Most Bitcoin Holders Remain in Profit Amid Recent Market Trends

Bitcoin is currently holding steady above $60,000, demonstrating resilience despite a recent period of sluggish momentum.

As of July 22, Bitcoin remains approximately 8% below its all-time high of $74,000. Nonetheless, the majority of Bitcoin holders are still experiencing gains, with 93% of addresses showing profitability at current levels.

This strong performance comes after a significant sell-off in June and early July 2024, when Bitcoin prices fell to as low as $53,500 before beginning their recovery.

Despite the drop, Bitcoin’s rebound to above $68,000 has helped restore investor confidence, particularly among those who purchased the cryptocurrency within the last 155 days. These short-term holders are now beginning to see profits, reducing selling pressure.

Meanwhile, Bitcoin miners have been notably active, with companies like Mara Digital and Riot Blockchain adding over 4,500 BTC to their holdings in the past three weeks. This increase in mining activity has positively impacted their stock prices, which have risen by more than 30% recently.

Additionally, large entities holding at least 1,000 BTC have been ramping up their acquisitions, pushing their total holdings to a two-year high.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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