Cryptocurrency

Bitcoin ETF

Bitcoin

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<div class="finbold">
 <p class="paragraph">Bitcoin (BTC) is trading above $42,000 on December 5, accumulating more than 2% gains in the last 24 hours. This surge, partly fueled by anticipation of a potential spot Bitcoin ETF approval and the upcoming Bitcoin halving in 2024, is rewarding investors</p>
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 <p class="paragraph">The leading cryptocurrency surge in 2023 rewards Bitcoin holders with an increased number of investors now ‘In The Money.’ Notably, Finbold retrieved data from IntoTheBlock, which shows that 88% of all Bitcoin holders are in unrealized profits. The ‘In The Money’ status is reached by crypto wallet addresses that received BTC at lower prices than the current mark.</p>
 <p class="paragraph">On the other hand, 1% of all Bitcoin <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> acquired their coins at these prices, while 11% have unrealized losses. The data highlights a positive sentiment in the Bitcoin market, with a substantial majority of investors benefiting from the cryptocurrency’s price movement</p>
 <p class="paragraph">Interestingly, 69% of these investors are long-term Bitcoin <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a>, keeping these coins for longer than one year, while 31% are holding for less than 12 months, out of which 7% hold for less than a month.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="242" src="https://cdn.thebittimes.com/images/2023/12/05/e59f25c6e56ef359f90d4f3c80561de0.webp" alt="Bitcoin holders status." class="wp-image-141490" srcset="https://cdn.thebittimes.com/images/2023/12/05/e59f25c6e56ef359f90d4f3c80561de0.webp 1024w, https://cdn.thebittimes.com/images/2023/12/05/e59f25c6e56ef359f90d4f3c80561de0.webp 300w, https://cdn.thebittimes.com/images/2023/12/05/e59f25c6e56ef359f90d4f3c80561de0.webp 768w, https://cdn.thebittimes.com/images/2023/12/05/e59f25c6e56ef359f90d4f3c80561de0.webp 1536w, https://cdn.thebittimes.com/images/2023/12/05/e59f25c6e56ef359f90d4f3c80561de0.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Bitcoin holders status. Source: <em>IntoTheBlock</em>
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 <p class="paragraph">It is also notable that only 11% of all BTC in circulation is kept by what the platform identifies as ‘Large Holders.’ Under IntoTheBlock’s definition, these are Bitcoin holders with more than 0.1% of the circulating supply.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-holders-and-a-bearish-outlook">Bitcoin holders and a bearish outlook</h2>
 <p class="paragraph">Despite the recent bullish price action, IntoTheBlock summarizes Bitcoin signals as ‘Mostly Bearish.’ On that, four of its indicators are neutral, while two are bearish, and a single one is bullish.</p>
 <p class="paragraph">In particular, ‘Net Network Growth’ and ‘Large Transactions’ are setting a bearish outlook with 0.27% and -1.06%, respectively. The former measures the number of non-zero addresses, while the latter is the number of transactions larger than $100,000.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="302" src="https://cdn.thebittimes.com/images/2023/12/05/3b60195c850a65c5f1f9fdfe397b52e2.webp" alt="Bitcoin signals." class="wp-image-141493" srcset="https://cdn.thebittimes.com/images/2023/12/05/3b60195c850a65c5f1f9fdfe397b52e2.webp 1024w, https://cdn.thebittimes.com/images/2023/12/05/3b60195c850a65c5f1f9fdfe397b52e2.webp 300w, https://cdn.thebittimes.com/images/2023/12/05/3b60195c850a65c5f1f9fdfe397b52e2.webp 768w, https://cdn.thebittimes.com/images/2023/12/05/3b60195c850a65c5f1f9fdfe397b52e2.webp 1536w, https://cdn.thebittimes.com/images/2023/12/05/3b60195c850a65c5f1f9fdfe397b52e2.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin signals. Source: <em>IntoTheBlock</em>
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 </figure>
 <p class="paragraph">In this context, having a growing number of Bitcoin <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> in <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a> could also be a potential trend reversal signal. Essentially, the larger the amount of investors ‘In The Money,’ the more likely these <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> are to sell their positions and realize <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a>s.</p>
 <p class="paragraph">In October, Finbold reported 82% of Bitcoin <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> in <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a>, while this number grew to 85% in November. Nevertheless, this also works as evidence of Bitcoin’s ability to function as a store of value.</p>
 <p class="paragraph">All things considered, Bitcoin’s further performance will depend on multiple factors rather than just on what was mentioned above. Protocol development, network decentralization, adoption, and macro conditions will play a relevant role moving forward.</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/88-of-all-bitcoin-holders-in-profit-as-2023-comes-to-an-end-tbt72682.html">https://thebittimes.com/88-of-all-bitcoin-holders-in-profit-as-2023-comes-to-an-end-tbt72682.html</a></p>

88% of all Bitcoin holders in profit as 2023 comes to an end

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