2024

Bitcoin

Coin

<ul class="news-points">
 <li>Glassnode says the average Bitcoin investor holds profits despite a recent price dip.</li>
 <li>Average BTC bull holds an unrealized gain of $41K, while short-term investors hold an unrealized loss of $5,300.</li>
 <li>Key pricing levels that could impact investor behavior include a breach of $58K and a decisive break above $64,000.</li>
</ul>
Despite the recent sell-off that pushed Bitcoin (BTC) prices below $60,000, a new analysis from Glassnode suggests the market remains remarkably robust.
According to the <a href="https://insights.glassnode.com/the-week-onchain-week-27-2024/" target="_blank" rel="noopener noreferrer nofollow">on-chain analytics platform</a>, aggregate investor profitability is still strong, with the average coin holding a 2x profit multiple — a level often seen during the enthusiastic and euphoric phases of bull markets.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> market is in an interesting spot, with the average coin still up 2x, whilst most Short-Term Holders are underwater. A multitude of volatility measures are also heavily compressed, suggesting a larger move is on the horizon. Discover more in the latest Week… <a href="https://t.co/8J0MAKRraf" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/8J0MAKRraf</a>— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1808426939058676013?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 3, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Glassnode’s analysis reveals that the average coin in profit holds an unrealized gain of $41,300, with a cost basis of approximately $…
The post <a href="https://coinedition.com/data-shows-average-bitcoin-investor-sitting-on-big-profits-despite-dip/" rel="noopener noreferrer nofollow">Data Shows Average Bitcoin Investor Sitting on Big Profits Despite Dip</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Data Shows Average Bitcoin Investor Sitting on Big Profits Despite Dip

Coin Edition

Other articles published on Jul 3, 2024

CleanSpark Mined 445 BTC in June and Surpasses 20 EH/s Goal

Analyst Predicts $1k in These Cryptos Today Could Buy a Sport Car by 2025

Animoca Brands & Gala Games Team Up to Boost $GALA Token Liquidity

LAPD Arrests Suspect in $579K Bitcoin Mining Equipment Theft

Sui NFTs Updates

Hong Kong Regulators Hint Plans To Review Crypto Rules

Join our free newsletter for daily crypto updates!