The number of profitable bitcoin addresses has reached a new all-time high.
31.10.2023
The number of profitable bitcoin addresses has reached a new all-time high.

The number of bitcoin wallets in the profit zone has surpassed the 39 million mark, setting a new record, according to data from Glassnode.

About 80% of addresses with a positive balance in the first cryptocurrency are now in the "green zone," thanks to the price surpassing the $34,000 mark.

The previous peak of this indicator was recorded in November 2021, when a peak of 38.1 million was reached amidst the recovery of bitcoin's value to record levels.

Despite the fact that the current quotes on the spot cryptocurrency market are approximately 50% of the level at that time, the number of bitcoin addresses with a non-zero balance currently exceeds 49 million.

The growth of the first cryptocurrency in October led to a reduction in the share of wallet owners with unrealized losses to less than 20%.

Crypto Slate analyst James Straten drew attention to the profit-taking by short-term bitcoin holders, while noting the stability of positions of long-term investors in cryptocurrency.

"Long-term holders have virtually not changed their positions, ranking sixth in profit-taking volume this year, albeit with a minimal margin," the expert emphasized.

Specialists from IntoTheBlock noted an increase in investments in bitcoin by "whales". Over the last seven days, this group of investors has increased their portfolios by 19,923 BTC, worth about $650 million.

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