Bitcoin ETF

Bitcoin

Terra

Change

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-long-term-holders-see-unprecedented-unrealized-gains/" data-wpel-link="internal">Bitcoin Long-Term Holders See Unprecedented Unrealized Gains</a><br></p>
<p style="text-align: justify">A recent report by Glassnode indicates a notable improvement in the metric showing the Unrealized Profit and Loss of those who have held <strong><a href="https://en.coin-turk.com/imminent-decision-on-spot-bitcoin-etf-by-sec/" data-wpel-link="internal">Bitcoin</a></strong> for a long time. This significant metric has returned to levels observed before the Terra collapse, leading to speculation that the market may enter a “belief” phase in January 2024.</p> 
<h2 style="text-align: justify" id="unprecedented-unrealized-profits-a-positive-change-for-bitcoin-s-long-term-holders">Unprecedented Unrealized Profits: A Positive Change for Bitcoin’s Long-Term Holders</h2> 
<p style="text-align: justify">By mid-January 2024, the average unrealized profit for Bitcoin’s long-term holders impressively rose to 55%, indicating a “significantly positive” trend. Glassnode’s analysis reveals that <strong>Bitcoin</strong>’s long-term holders last experienced such profits before the Terra Luna ecosystem’s downturn, in the early first quarter of 2022.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-303897 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/glassnode-cointurk-scaled.jpg" alt="" width="2560" height="1474"></p> 
<p style="text-align: justify">Despite these profits, some long-term holders chose to sell their assets at current prices to benefit from the recent Bitcoin rally. However, the Long-Term Holder Supply has only slightly decreased by about 75,000 BTC since November 2023, from its all-time high. Remarkably, this group of investors continues to control a significant portion of the circulating <strong>Bitcoin</strong> supply, at 76.3%.</p> 
<h2 style="text-align: justify" id="historical-perspective-overcoming-negative-trends">Historical Perspective: Overcoming Negative Trends</h2> 
<p style="text-align: justify">Before the third quarter of 2023, the Long-Term Holder Supply metric remained negative for over a year, indicating that passionate Bitcoin investors were holding onto their coins at a loss. The recent shift to positive territory highlights a significant turnaround for this investor group and reflects renewed optimism and confidence in <strong>Bitcoin</strong>‘s potential.</p> 
<p style="text-align: justify">Despite positive developments for long-term investors, Bitcoin unexpectedly fell below the year’s lowest levels. Glassnode’s “rainbow” version of the chart shows a shift from the “Optimism/Anxiety” zone to the “Belief” zone, in line with moderate optimism among investors.</p> 
<p style="text-align: justify">Simultaneously, the approval of a <strong>Bitcoin ETF</strong> in the US sent mixed signals to the market. Following the rise, the BTC price dropped to nearly $40,000 on major spot exchanges. Glassnode attributes this 18% price drop to unhealthy derivative leverage dynamics and some investors taking spot profits.</p> 
<h2 style="text-align: justify" id="current-situation-bitcoin-s-market-position">Current Situation: Bitcoin’s Market Position</h2> 
<p style="text-align: justify">As of the latest update, Bitcoin is trading at $42,348, down 1.27% in the last 24 hours. The evolving dynamics of Bitcoin’s price and the influential role of long-term holders continue to shape the narrative in the crypto market.</p> 
<p style="text-align: justify">In conclusion, Glassnode’s analysis emphasizes the resurgence of unrealized profits for Bitcoin’s long-term holders, indicating a positive change in sentiment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-long-term-holders-see-unprecedented-unrealized-gains/" data-wpel-link="internal">Bitcoin Long-Term Holders See Unprecedented Unrealized Gains</a></h5>

Bitcoin Long-Term Holders See Unprecedented Unrealized Gains

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