Bitcoin

Optimism

Propel

Spot

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/surge-in-profitable-bitcoin-wallets-signals-market-optimism" rel="noopener noreferrer nofollow">Surge in Profitable Bitcoin Wallets Signals Market Optimism</a><br></p>
<p style="text-align: justify">The latest data from IntoTheBlock, an on-chain analytics firm, highlights a striking surge in <a href="https://en.bitcoinhaber.net/us-dollar-maintains-dominance-despite-de-dollarization-narrative" rel="noopener noreferrer nofollow">Bitcoin</a> wallet addresses that currently boast unrealized gains. This metric has surpassed the 97% threshold, marking a historic precedent not seen since November 2021. The increase signifies that the overwhelming majority of Bitcoin holders have acquired their assets at lower price points compared to the existing market value, suggesting a lowered propensity to sell and a potential bullish outlook for the <a href="https://en.bitcoinhaber.net/u-s-regulators-caution-investors-on-ai-crypto-trading-bots" rel="noopener noreferrer nofollow">cryptocurrency</a>.</p>
<h2 id="historic-highs-in-bitcoin-holder-gains">Historic Highs in Bitcoin Holder Gains</h2>
<p style="text-align: justify">A significant percentage of Bitcoin wallet addresses are now experiencing profits with the digital currency’s average acquisition cost per wallet falling below its present trading price. The surge in wallets with unrealized gains coincides with Bitcoin’s robust performance, with the cryptocurrency trading around $65,000, nearing its peak value achieved over a year ago.</p>
<p style="text-align: justify">IntoTheBlock’s analysis offers insights into market tendencies, showing that most investors have purchased Bitcoin at lower prices. This trend could ease selling pressures and support the ongoing positive sentiment within the market. The data also suggests a circulation of Bitcoin from established holders realizing profits to new entrants in the market.</p>
<h2 id="spot-etfs-propel-market-rally">Spot ETFs Propel Market Rally</h2>
<p style="text-align: justify">Observers credit the recent 54% increase in Bitcoin’s price this year, building on a 154% rise the previous year, to the strong inflows into spot exchange-traded funds (ETFs) in the US. Wall Street’s acceptance of these ETFs has altered supply and demand dynamics, further fueling the market’s upward trajectory and setting the stage for potential record-breaking highs.</p>
<p style="text-align: justify">In tandem with Bitcoin, the cryptocurrency market at large is riding a wave of positive momentum, with numerous altcoins also achieving significant increases, some by over 100% since the year’s start.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/surge-in-profitable-bitcoin-wallets-signals-market-optimism" rel="noopener noreferrer nofollow">Surge in Profitable Bitcoin Wallets Signals Market Optimism</a></h5>

Surge in Profitable Bitcoin Wallets Signals Market Optimism

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