Crash

Plunge

Bitcoin

Arthur

when

<a href="https://bitcoinworld.co.in/bitcoin-crash-wipes-out-18-of-profitable-investors-in-24-hours/" title="Bitcoin Crash Wipes Out 18% Of Profitable Investors In 24 Hours" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">The percentage of Bitcoin investors in profit has <a href="https://twitter.com/intotheblock/status/1820363986946113770" rel="noopener noreferrer nofollow">dropped</a> by 18% (from 93% at the end of July to the current 75%), coinciding with Bitcoin’s price falling below $50,000.</li>
 <li style="font-weight: 400">The last time the percentage of BTC addresses in profit was at similar levels was in January, when the price hit a low of $39,000 before rising to $73,000.</li>
 <li style="font-weight: 400">There is a risk of further declines to $40,000 according to analysts.</li>
</ul>
The percentage of Bitcoin holders in profit has experienced a significant drop in recent days, highlighting the impact of the recent crypto market downturn.&nbsp;
The proportion of BTC investors in a favorable position has decreased from 93% at the end of July to 75% currently. This decline coincides with Bitcoin’s price falling below $50,000, a level not seen since February this year.
The last time the percentage of BTC addresses in profit was at similar levels was in January, when the value of the cryptocurrency hit a local low around $39,000.&nbsp;
This price drop occurred shortly after the launch of Bitcoin exchange-traded funds (ETFs) in the United States, which later drove the cryptocurrency’s price up to $73,000.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 As Bitcoin's price fell to $50k, the percentage of holders in profit dropped to 75%.
 This level was last seen in January when prices formed a local bottom around $39k. <a href="https://t.co/CAR5ju5VOR" rel="noopener noreferrer nofollow">pic.twitter.com/CAR5ju5VOR</a>
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1820363986946113770?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 5, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
In the past week, Bitcoin plunged dramatically, falling from a peak of $70,000 to around $50,000 in less than a week. The price briefly touched $49,513 before a slight recovery brought it to approximately $54,600 at the time of writing.
<h3 id="span-style-font-weight-400-bitcoin-btc-may-continue-to-plunge-span">Bitcoin (BTC) May Continue To Plunge</h3>
If <a href="https://bitcoinworld.co.in/this-is-why-bitcoin-btc-could-drop-to-40k-cryptoquant/" rel="noopener noreferrer nofollow">Bitcoin</a>’s price continues to fall, it is likely that the percentage of holders in profit will continue to decrease.&nbsp;
Despite the current volatility, analysts suggest that the bull phase of the market is not over yet. The number of addresses in profit may increase in the coming weeks, depending on a potential price recovery.
Some suggest that outflows from ETFs, uncertainty around the U.S. Federal Reserve’s fiscal policy, and economic weakness in the country could be influencing the price decline.&nbsp;
Additionally, Arthur Hayes, co-founder of the trading platform BitMEX, suggests that a massive sell-off by a large investor could be behind the recent drop.
CryptoQuant analysts warn that investors might face negative profit margins in the coming days, as BTC could fall to $40,000. The situation remains uncertain, and future price movements will be crucial in determining the market’s trajectory.

Bitcoin Crash Wipes Out 18% Of Profitable Investors In 24 Hours

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