Value

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin [BTC] has struggled to maintain its position above the $60,000 price level, impacting short-term holders.</li> 
 <li>A majority of Bitcoin holders remain profitable despite the recent price fluctuations.</li> 
</ul>  
<p>Bitcoin [BTC] has been facing challenges in maintaining its position above the $60,000 price level. </p> 
<p>This has particularly affected short-term Bitcoin holders, many of whom are now holding their assets at a loss. </p> 
<h2 id="short-bitcoin-holders-at-a-loss">Short Bitcoin Holders at a Loss</h2> 
<p>A recent report revealed that over 80% of short-term Bitcoin holders were holding their BTC at a loss. </p> 
<p>This is due to Bitcoin’s struggle around the $60,000 price level. </p> 
<p>Similar market conditions were observed in 2018, 2019, and mid-2021, leading to increased panic selling. </p> 
<p>Analysis of the 30-day Market Value to Realized Value (MVRV) confirmed the challenges faced by short-term Bitcoin holders. </p> 
<p>The MVRV has been below zero since the beginning of the month, indicating that most short-term holders were underwater. </p> 
<h2 id="bitcoin-holders-remain-profitable-overall">Bitcoin Holders Remain Profitable Overall</h2> 
<p>Despite the struggles of short-term holders, the overall Bitcoin holder base reveals a more positive outlook. </p> 
<p>Data shows that over 80% of all Bitcoin addresses were “in the money,” meaning they held BTC at a price higher than their purchase price. </p> 
<p>Approximately 12.9% of the total were “out of the money,” meaning these holders were at a loss. </p> 
<p>Despite recent price declines affecting short-term holders, the overall market is still largely in profit. </p> 
<p>Bitcoin has seen a price increase of over 2%, pushing it to approximately $60,800. </p> 
<p>The recent gains have brought Bitcoin closer to a critical resistance level around the $60,000 mark. </p> 
<p>The next major resistance level lies at around $63,000. This level will be the next critical target for Bitcoin to reach as it continues its upward trend. </p>

Understanding Why 80% of Bitcoin Owners are Still in Loss Despite BTC Stabilizing at $60K

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CoinEagle.com

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