The State of Bitcoin: Insights Into the Market
Bitcoin's current value is holding strong near the $57,000 mark, but a significant number of holders are still faced with a loss.
Market Update
Bitcoin (BTC) has shown resilience, bouncing back from the $50,000 mark amidst geopolitical tensions. Today, it reached a high of $57,220 before stabilizing between $55,000 and $57,000.
Holders and Profits
Currently, there are 9.87 million Bitcoin addresses at a loss, predominantly acquiring BTC at $66,441. However, 1.27 million addresses are at break-even or profit levels, having purchased at $55,776.
Interestingly, 42.24 million addresses are enjoying significant profits from their Bitcoin holdings.
Market Trends and Predictions
Data indicates that long-term holders outnumber short-term traders, possibly indicating reduced selling pressure and potential price surges.
CryptoQuant CEO Ki Young Ju suggests that Bitcoin could achieve an all-time high if it sustains above $45,000, with whales accumulating a substantial amount in the recent market uncertainties.
