Bitcoin Regains Bullish Momentum, Surges Towards $115,000
In a remarkable turnaround, Bitcoin, the leading cryptocurrency, has once again captured investors’ attention by climbing back to its previous highs, nearing the $115,000 mark. This impressive recovery indicates a significant shift in market sentiment, transitioning from bearish to bullish trends, accompanied by a notable increase in realized profits.
Sharp Increase in Realized Bitcoin Profits
With Bitcoin reclaiming crucial resistance levels, investors are experiencing a significant boost in their returns. A report from Glassnode, a prominent on-chain analytics platform, highlights a surge in realized profits for BTC, signifying a renewed sense of optimism in the crypto market.
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Recent on-chain data from Glassnode reveals that Bitcoin holders have collectively realized over $1 billion in profits within just 24 hours. This substantial increase in gains reflects growing confidence among both institutional and retail investors, who are capitalizing on favorable market conditions to secure their profits amid recent volatility.
Insights into Profit Realization Across Bitcoin Holder Age Groups
Further analysis of the realized profits, categorized by the age of Bitcoin holdings, shows that those who have held Bitcoin for 7 to 10 years are currently the top beneficiaries, with gains exceeding $362 million. This segment of investors, often referred to as ‘ancient holders,’ accounted for approximately 35.8% of the total realized profits during this period. The occurrence of such significant profits suggests either internal fund movements or definitive exits from the market.
Glassnode also identified that Bitcoin holders with a holding period of 1 to 2 years have seen a marked increase in profits, totaling $93 million. This group, classified as long-term holders, has benefited from the recent price surge, marking a notable profit realization.
Bitcoin Investors, Big and Small, Embark on Buying Spree
In a recent analysis shared by Glassnode, a strong buying trend has been observed among both large-scale and retail Bitcoin investors. This surge in buying activity during recent market dips reflects a growing confidence in Bitcoin’s future prospects, both in the short and long term.
The data reveals that the average holdings of retail investors and ultra-large holders, defined as those with at least 10,000 BTC, have increased over the past 15 days. Retail investors, holding less than 1 BTC, also show a similar pattern of accumulation, suggesting early dip-buying during the market’s recent adjustments.
As of the latest updates, Bitcoin is trading at $114,911, marking a nearly 1% rise within the last 24 hours. Despite this positive movement, investor sentiment is gradually shifting towards caution, as evidenced by a 5% decline in trading volume over the past day.
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