Bitcoin

James

According to on-chain analytics firm Glassnode, as of October 30th, the number of Bitcoin addresses in profit reached a historic high of 39.1 million. This milestone surpasses the previous peak of 38.1 million recorded in November 2021 when Bitcoin was trading at its all-time highs. 
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 <img decoding="async" class="wp-image-24965 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart.webp" alt="Bitcoin addresses in profit chart" width="1800" height="1013" srcset="https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart.webp 1800w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-300x169.webp 300w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1024x576.webp 1024w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-768x432.webp 768w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1536x864.webp 1536w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-750x422.webp 750w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1140x642.webp 1140w" sizes="(max-width: 1800px) 100vw, 1800px" title="Nearly 40 million Bitcoin addresses now in profit 19">
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 Bitcoin addresses in profit chart | Glassnode
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Interestingly, this surge in profitable addresses has occurred even though Bitcoin’s spot price remains significantly lower than its peak levels. The total number of non-zero balance <a href="https://crypto.ro/en/bitcoin/">Bitcoin</a> addresses is currently 48.3 million, suggesting that nearly 81.1% of these addresses are in profit – a level not seen in the past 18 months. 
This shift towards profitability has been swift, with the percentage of in-profit addresses surging from 60% to 80% over the last two months. On the flip side, the number of addresses at a loss has decreased to just over 9 million, a significant drop from over 20 million recorded in December 2022, post the <a href="https://crypto.ro/en/news/sam-bankman-fried-former-ftx-ceo-faces-7-class-action-lawsuits/">FTX meltdown</a>. 
<figure id="attachment_24967" aria-describedby="caption-attachment-24967" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="wp-image-24967 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1.webp" alt="Bitcoin addresses in profit chart 1" width="1800" height="1013" srcset="https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1.webp 1800w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1-300x169.webp 300w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1-1024x576.webp 1024w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1-768x432.webp 768w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1-1536x864.webp 1536w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1-750x422.webp 750w, https://crypto.ro/en/wp-content/uploads/2023/10/Bitcoin-addresses-in-profit-chart-1-1140x642.webp 1140w" sizes="(max-width: 1800px) 100vw, 1800px" title="Nearly 40 million Bitcoin addresses now in profit 20">
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 Bitcoin addresses in profit chart | Glassnode
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The past week has seen Bitcoin’s price action break through multiple resistance levels, returning both long-term and short-term holders to profit. This has triggered profit-taking, particularly as Bitcoin surpassed the $34,000 mark. 
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 <img decoding="async" class="wp-image-24968 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/10/btc-price-2.jpg" alt="btc price 2" width="1392" height="760" srcset="https://crypto.ro/en/wp-content/uploads/2023/10/btc-price-2.jpg 1200w, https://crypto.ro/en/wp-content/uploads/2023/10/btc-price-2-300x164.jpg 300w, https://crypto.ro/en/wp-content/uploads/2023/10/btc-price-2-1024x559.jpg 1024w, https://crypto.ro/en/wp-content/uploads/2023/10/btc-price-2-768x419.jpg 768w, https://crypto.ro/en/wp-content/uploads/2023/10/btc-price-2-750x409.jpg 750w, https://crypto.ro/en/wp-content/uploads/2023/10/btc-price-2-1140x622.jpg 1140w" sizes="(max-width: 1392px) 100vw, 1392px" title="Nearly 40 million Bitcoin addresses now in profit 21">
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 Bitcoin 7 days Price Chart | CoinMarketCap
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James Van Straten, a research and data analyst at CryptoSlate, highlighted the difference in mentality between different types of investors. He noted, “Bitcoin has shown remarkable strength above $34k for the past five days while witnessing one of the strongest profit-takings in the past two years, from short-term holders.”

Nearly 40 million Bitcoin addresses now in profit

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