Cryptocurrency

Bitcoin

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 <p class="paragraph">Bitcoin (BTC) is trading at $34,795 by press time, in a strong momentum for the leading cryptocurrency, with more than 25% gains in a week.</p>
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 <p class="paragraph">With this move, 82% of all crypto wallet addresses holding Bitcoin are “In the Money”, according to data retrieved by Finbold from <em>IntoTheBlock</em>, on October 25. On the other hand, 11% of all Bitcoin <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> are carrying unrealized losses, while 7% are in a breakeven position.</p>
 <p class="paragraph">Notably, only 11% of all the <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> are made of what <em>IntoTheBlock</em> classifies as “Investors” and “Whales” for addresses holding more than 0.1% and 1% of Bitcoin’s circulating supply, respectively.</p>
 <p class="paragraph">Moreover, 70% are long-term <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a>, having acquired their coins more than one year ago, 24% are holding between 1 to 12 months, and 6% are short-term <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> that just recently bought their current balances.<br>It is important to understand that with a large percentage of <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> “In the Money” or at a breakeven position, there is also a higher chance of these <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> deciding to sell their holdings to realize the gains or protect against further losses if the sentiment turns bearish.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="431" src="https://cdn.thebittimes.com/images/2023/10/25/08b122f2720ebfea88bb4e6e94278df7.webp" alt="Bitcoin holders’ data" class="wp-image-134130" srcset="https://cdn.thebittimes.com/images/2023/10/25/08b122f2720ebfea88bb4e6e94278df7.webp 1024w, https://cdn.thebittimes.com/images/2023/10/25/08b122f2720ebfea88bb4e6e94278df7.webp 300w, https://cdn.thebittimes.com/images/2023/10/25/08b122f2720ebfea88bb4e6e94278df7.webp 768w, https://cdn.thebittimes.com/images/2023/10/25/08b122f2720ebfea88bb4e6e94278df7.webp 1232w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Bitcoin holders’ data. Source: <em>IntoTheBlock</em>
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 <h2 class="wp-block-heading" id="h-signals-reveal-a-bullish-trend-for-bitcoin-holders">Signals reveal a bullish trend for Bitcoin holders</h2>
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 <p class="paragraph">However, trend signals from <em>IntoTheBlock</em> reveal the bullish momentum for Bitcoin could continue for a while.</p>
 <p class="paragraph">The consolidated signal shows a “Mostly Bullish” trend, with 3 out of 7 signals pointing towards continuation. While 2 points toward a neutral sentiment, and 2 suggests a bearish pivot.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="289" src="https://cdn.thebittimes.com/images/2023/10/25/8c81842cbf9790934398dc3632dc1fc8.webp" alt="Bitcoin bullish/bearish signals." class="wp-image-134131" srcset="https://cdn.thebittimes.com/images/2023/10/25/8c81842cbf9790934398dc3632dc1fc8.webp 1024w, https://cdn.thebittimes.com/images/2023/10/25/8c81842cbf9790934398dc3632dc1fc8.webp 300w, https://cdn.thebittimes.com/images/2023/10/25/8c81842cbf9790934398dc3632dc1fc8.webp 768w, https://cdn.thebittimes.com/images/2023/10/25/8c81842cbf9790934398dc3632dc1fc8.webp 1536w, https://cdn.thebittimes.com/images/2023/10/25/8c81842cbf9790934398dc3632dc1fc8.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Bitcoin bullish/bearish signals. Source: <em>IntoTheBlock</em>
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 <p class="paragraph">Interestingly, one of the bullish signals is the sudden increase for “In The Money” <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a>, plus an imbalance towards “buy orders” on exchanges and also a surge in derivatives. At the time of publication, Open Interest volume for Bitcoin has surpassed August levels, validating the current trend.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/82-of-bitcoin-holders-are-in-the-money-tbt67749.html">https://thebittimes.com/82-of-bitcoin-holders-are-in-the-money-tbt67749.html</a></p>

82% of Bitcoin holders are ‘in the money’

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