Bitcoin ETF

Bitcoin

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Rise

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<ul> 
 <li>Bitcoin had a turbulent week in terms of price movements. The world’s largest cryptocurrency saw an 18% increase in the last seven days, marking the highest percentage increase of the year.</li> 
 <li>Bitcoin bulls managed to push the Bitcoin price above $35,100 in the last 24 hours, marking the largest one-day increase this year.</li> 
 <li>When looking at the average purchase prices of short-term holders, it is observed that the majority of the market is at the $28,000 level, creating a profit margin for both short-term and long-term traders.</li> 
</ul> 
<p><strong>What impact did the critical level of $35,000 in Bitcoin’s price have on metrics? An update on the current situation of both long and short-term investors!</strong></p> 
<h2 id="strong-the-rise-of-bitcoin-increases-investor-profitability-strong"><strong>The Rise of Bitcoin Increases Investor Profitability</strong></h2> 
<p><img decoding="async" loading="lazy" class="alignnone size-full wp-image-126535" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-38.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-38.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-38.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-38.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-38.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-38.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-38.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-38.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>Bitcoin had a turbulent week in terms of price movements. The world’s largest cryptocurrency saw an 18% increase in the last seven days, marking the highest percentage increase of the year. This unexpected increase led to the liquidation of a series of short positions, and according to Glassnode, futures positions worth 60,000 BTC were closed. Among all the price increases, it is observed that a significant portion of investors are now profitable, according to Glassnode’s data.</p> 
<p>Bitcoin bulls managed to push the Bitcoin price above $35,100 in the last 24 hours, marking the largest one-day increase this year. The uptrend began near the $25,000 level and continued until reaching a new high for the year.</p> 
<p>A report by the blockchain analytics platform Glassnode shows that Bitcoin’s rapid rise above $35,000 is a significant event for holders. At this price level, millions of BTC holders are considered profitable. During this rally, with the price increase between $25,000 and $35,000, the profitability percentage of the circulating supply increased to up to 4.7 million BTC, constituting 24% of the total circulating supply.</p> 
<p>Long-term investors, in particular, have made significant profits at this price level. Approximately 29.6% of the long-term holders are still at a loss, but their total ownership recently reached a new all-time high of 14.899 million BTC.</p> 
<p>Short-term holders have not been overlooked, as investor confidence has turned from bearish to neutral in cost-based models. We are currently moving towards a bullish sensitivity point for short-term holders. When looking at the average purchase prices of short-term holders, it is observed that the majority of the market is at the $28,000 level, creating a profit margin for both short-term and long-term traders.</p> 
<h2 id="strong-what-is-the-reason-behind-the-price-increase-in-bitcoin-strong"><strong>What Is the Reason Behind the Price Increase in Bitcoin?</strong></h2> 
<p>The sudden increase in Bitcoin can be attributed to the excitement surrounding the approval of BlackRock’s spot Bitcoin ETF application. Bitcoin supporters pointed out that BlackRock’s iShares Bitcoin Trust was listed on the Depository Trust and Clearing Corporation (DTCC) website, suggesting that BlackRock has started putting money into the ETF.</p> 
<p>As of now, Bitcoin is trading at $34,400. Change signals also indicate a bullish trend, as traders are now exchanging their assets for BTC on crypto exchanges. Bitcoin’s price gain has reflected in the share prices of crypto-related companies like Coinbase and MicroStrategy. At this price level, MicroStrategy would have made a profit of $857 million from Bitcoin assets.</p> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/with-bitcoin-rise-to-35000-many-investors-have-recovered-from-losses/">With Bitcoin Rise to $35,000, Many Investors Have Recovered from Losses!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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With Bitcoin Rise to $35,000, Many Investors Have Recovered from Losses!

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