Bitcoin

Despite slowing down the gains accumulated in recent weeks, Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) has nonetheless shown its <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> strength throughout the ongoing <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">financial</a> crisis that has engulfed the <a href="https://finbold.com/guides/banking/" rel="noopener noreferrer nofollow">banking</a> sector, and the overwhelming portion of its holders are in profit.As it happens, as much as 72% of <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> holders are making a profit at its current price (in the money), while 25% are in a loss, and 3% are at the money, according to the latest <a href="https://app.intotheblock.com/coin/BTC" rel="noopener noreferrer nofollow">data</a> retrieved by <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> from the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> tracking platform IntoTheBlock on March 22.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3f58f8277ae1479a801e1f26fc09b0c9.png" />Bitcoin holders in/out/at the money at the current price. Source: <a href="https://app.intotheblock.com/coin/BTC" rel="noopener noreferrer nofollow">IntoTheBlock</a>Among all the observed holders of the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset, 69% of them are considered long-term holders, having held Bitcoin for more than one year, as opposed to 23% holding it between one and 12 months, and 8% of addresses holding it for less than one month.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e17f6dd2f5304f20b0ff590903faa1aa.png" />Bitcoin holders composition based on time held. Source: <a href="https://app.intotheblock.com/coin/BTC" rel="noopener noreferrer nofollow">IntoTheBlock</a><h2 id="header-0">Bitcoin price analysis</h2>Meanwhile, Bitcoin’s success amid the financial crisis has so far been substantial, taking into account that the maiden <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> has crossed the critical threshold of $28,000, at press time trading at $28,159, which represents a 0.51% gain in the last 24 hours, as well as gaining 13.93% over the week, and 16.68% across the past month.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/dd1a1e117b00420ab914c65775459ee0.png" />Bitcoin 7-day price chart. Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>It is also important to note that Bitcoin has outperformed <a href="https://finbold.com/guide/what-are-commodities/" rel="noopener noreferrer nofollow">commodities</a>, particularly <a href="https://finbold.com/topic/gold/" rel="noopener noreferrer nofollow">gold</a>, considered “the top-performing old-guard commodity,” nearly 10-fold in 2023, indicating that it has started its ‘super cycle,’ <a href="https://finbold.com/bitcoin-outperforms-commodities-in-2023-suggesting-btc-super-cycle-is-on/" rel="noopener noreferrer nofollow">according</a> to Bloomberg’s senior commodity analyst Mike McGlone.On top of that, Bitcoin added <a href="https://finbold.com/100-billion-leaves-5-largest-u-s-banks-market-cap-in-2023-as-bitcoin-adds-200-billion/" rel="noopener noreferrer nofollow">more than $200 billion</a> to its market capitalization in 2023, at the same time when five leading banks in the United States suffered a joint loss of $108.92 billion, while the crypto ‘Fear &amp; Greed’ index reached a <a href="https://finbold.com/bitcoin-fear-greed-index-hits-16-month-high-as-btc-regains-28k/" rel="noopener noreferrer nofollow">16-month high</a>, indicating a strong buying sentiment.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">Finbold.com</a>.

Over 70% of Bitcoin holders are currently in profit as bulls take charge

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Alte articole publicate pe 22 mar. 2023

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