Bitcoin

April

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 In a report by Todayq News, it was observed that over the past 602 days (since December 2021), long-term holders have accumulated more than 1.01 million Bitcoins. Currently, long-term <a href="https://news.todayq.com/institutional-investors-accumulated-1-01-million-bitcoin-in-just-602-days/" rel="noopener noreferrer nofollow">holders</a> own around 14.47 million Bitcoins, which is just 20,000 BTC less than the highest amount ever recorded. During this time, there hasn’t been much selling or movement of Bitcoins by these long-term holders. 
 Recently, Intotheblock reported that only 20% of Bitcoin addresses are currently experiencing losses, the lowest figure since April 2022. When Bitcoin was around $30k, around 5 million addresses took the opportunity to accumulate it, indicating a positive trend and growing confidence among investors. 
 The percentage of addresses losing money on 
 As seen in the chart, the highest proportion of addresses, accounting for 84.3%, face losses. This figure remains remarkable even to this day. Notably, this downturn occurred as the price of Bitcoin sharply declined from $27.06 to $2.13, leaving only 14.92% of addresses in a profitable state. Source: IntoTheBlock 
 Currently, the price range of $29,000 to $31,000 holds significant importance as a demand zone for Bitcoin ($BTC). This is the range where Michael Saylor from MicroStrategy <a href="https://news.todayq.com/microstrategy-bolsters-bitcoin-holdings-with-347-million-purchase-solidifying-its-crypto-commitment/" rel="noopener noreferrer nofollow">purchased</a> 12,333 Bitcoins for $347 million, as stated in SEC filings. Therefore, it is unlikely to see a straightforward breakout at the moment. Instead, we can expect this range to act as resistance for now until it eventually transforms into a support level. 
 In the past three weeks, it was also observed that addresses holding between 10 and 10,000 Bitcoins have acquired a total of 71,000 Bitcoins. This <a href="https://news.todayq.com/bullish-sentiment-71000-bitcoins-accumulated-by-sharks-and-whales/" rel="noopener noreferrer nofollow">accumulation</a> corresponds to around $2.15 billion in value. This trend of increased accumulation aligns with the recent submission of a Bitcoin spot Exchange-Traded Fund (ETF) application by BlackRock, a significant asset management company. Additionally, other prominent firms such as Wisdom Tree, Invesco, Fidelity, and VanEck have also filed similar ETF applications for Bitcoin. 
 The recent Bitcoin price movement has been supported by these asset management firms for spot Bitcoin ETF applications, along with the partial victory of XRP over the SEC. This development, along with other traditional financial institutions expressing interest in Bitcoin ETFs, has created a positive sentiment in the market. As a result, Bitcoin reached a yearly high of $31,830. However, at present, it is trading within a narrower range of $30,000 to $31,500. 
 © Todayq News
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Data: Only 20% of Bitcoin addresses report losses, the lowest since April 2022

Todayq News

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