2024

Bitcoin

when

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p lang="en-GB" xml:lang="en-GB">Leading analyst known under the alias “PlanB,” the author of the Stock-to-Flow model for <a href="https://u.today/bitcoin-aiming-for-all-time-high-in-2024-predicts-top-analyst" rel="noopener noreferrer nofollow">Bitcoin</a>, has taken to the Twitter/X social media network to share with the community some good news about the world’s leading cryptocurrency, BTC.</p>
<h2 id="majority-of-bitcoin-in-profit-now-further-rise-expected-planb">Majority of Bitcoin in profit now, further rise expected: PlanB</h2>
<p lang="en-GB" xml:lang="en-GB">PlanB shared a BTC chart that shows that 90% of all Bitcoin is in profit at the moment. This is the highest value of this graph since Bitcoin reached an all-time high of $69,000 in mid-November 2021.</p>
<p lang="en-GB" xml:lang="en-GB">In a YouTube video, a link to which was shared in the tweet, <a href="https://u.today/bitcoin-btc-enters-crucial-phase-tomorrow-analyst-planb-says" rel="noopener noreferrer nofollow">PlanB</a> provided a more detailed analysis of this scheme. Currently, the chart shows orange dots, which means the 90% of all mined Bitcoins are in profit.</p>
<p lang="en-GB" xml:lang="en-GB">PlanB explained that red dots will be on the chart when 100% of all Bitcoin becomes profitable. Red here always follows the current orange ones. PlanB does not expect the profitability to drop to 60% now (yellow dots on the chart) since first this metric must hit the “red” level of profitability. Currently, the analyst added, only those who bought Bitcoin at the 2021 price peak are in loss and everybody else holding BTC is in profit now.</p>
<blockquote>
 <p lang="en" dir="ltr">90% of all bitcoin is in profit, highest since Oct 2021 ath.More info here: <a href="https://t.co/UahB9zJf4n" rel="noopener noreferrer nofollow">https://t.co/UahB9zJf4n</a> <a href="https://t.co/dL0GAMQj3Q" rel="noopener noreferrer nofollow">pic.twitter.com/dL0GAMQj3Q</a></p>— PlanB (@100trillionUSD) <a href="https://twitter.com/100trillionUSD/status/1755212852774805682?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 7, 2024</a>
</blockquote>
<p lang="en-GB" xml:lang="en-GB">This is likely to be achieved after the approaching Bitcoin halvening event in the middle of April this year, the fourth one in Bitcoin’s history. Looking at the chart, it becomes clear that the previous times when Bitcoin reached the “red” level was in 2021, when BTC reached the ATH after the 2020 halving. Previously, the same level was briefly hit in 2019, and before that in 2018 after the all-time high of $20,000 reached in December 2017.</p>
<h2 id="whales-continue-to-buy-btc">Whales continue to buy BTC</h2>
<p lang="en-GB" xml:lang="en-GB">As reported by a popular cryptocurrency trader and analyst on Twitter, Ali Martinez, Bitcoin whales keep accumulating BTC. Per his data, there are 73 new crypto whales who now own 1,000 Bitcoins and more. This represents an increase of 3.66% over the last two weeks.</p>
<p lang="en-GB" xml:lang="en-GB">According to Santiment, however, the number of wallets holding Bitcoin continue to decline. This is happening despite the fact that it has been less than four weeks since the SEC approved spot-based Bitcoin ETFs. This could be happening because of FUD, Santiment believes.</p>
<blockquote>
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> whales are accumulating more <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>! Around 73 new whales now hold 1,000 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> or more, marking a 3.66% increase in two weeks. <a href="https://t.co/VFArJYTQZl" rel="noopener noreferrer nofollow">pic.twitter.com/VFArJYTQZl</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1755165260741247023?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 7, 2024</a>
</blockquote>

90% of All Bitcoin in Highest Profit Since 2021 ATH: PlanB Analyst

Table of Contents

U_Today

Other articles published on Feb 7, 2024

Develop a Trading Mindset for the Long-term with IronFX Academy

MicroStrategy hits $8B Bitcoin holdings in record acquisition

Insights on Bitcoin’s Prospects Before the April Halving

Retik Finance (RETIK), the Polygon (MATIC) Killer Projected to Climb to $18 From Just $0.1 in 2024

South Korea sentences Bitsonic execs in $7.5M crypto fraud case

Ethereum Price Prediction as It Eyes $2,700 Spike – Is a New Rally Brewing?

Join our free newsletter for daily crypto updates!