The number of Bitcoin addresses in profit has significantly increased following its price surge above the $65,000 zone.
The number of Bitcoin addresses in profit has increased significantly as its price soared above the $65,000 area. According to data provided by IntoTheBlock, more than 50.67 Bitcoin addresses have accumulated the asset below $65, representing 94% of the total BTC. The remaining 6%, or about 3.37 million addresses, purchased Bitcoin for an average price of $68 with a total volume of 1.58 million according to ITB data.Of this total, more than 80,000 active addresses are profitable and around 247,000 holders are close to their initial investment, according to ITB data. At this stage, only 3,440 active addresses are losing money.
A fairly similar move was also observed late when Bitcoin dropped from $65,800 on September 1. $28,000 to $60,000 on October 1st. 3. Investors and traders aimed for short term profits.The current chart suggests a local top as the market moves without long-term catalysts. One of the main factors behind the BTC price surge is the sudden increase in liquidations at.
According to a report from crypto.news, over $145 million worth of crypto assets were liquidated over the past 24 hours, with Bitcoin leading the pack with millions of dollars in liquidations. Additionally, inflows of $555.9 million into exchange-traded funds BTC spot at. This also triggered a bullish sentiment among and traders. Despite the latest correction, the price of BTC is up 1.8% in the past few hours and is trading at $65,750 as of writing. The asset’s market cap stands at $1.3 trillion with a daily trading volume of $39.5 billion. Data shows that Bitcoin’s Relative Strength Index is hovering at 64, showing that the asset is slightly overbought at this point. A further price hike would be expected for Bitcoin if the RSI cools down close to the 50 mark.