Less Than 70% Of Bitcoin Entities Are Now In Profit
As per the latest weekly report from , the percentage of BTC entities in profit has severely dropped recently as the value now oscillates between 76% and 65%.The “percent of entities in profit” is an indicator that measures the percentage of Bitcoin investors that are currently in profit.
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Looks like the indicator's value has sharply dropped recently | Source:As you can see in the above graph, the Bitcoin percentage of entities in profit has plunged down recently, and is currently below 70%. Conversely, this means that more than 30% of the entities are now in loss.
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This can lead to yet more selling pressure in the Bitcoin market, and would therefore be bearish for the crypto’s outcome.BTC Price
Bitcoin’s price crashed below the $37k mark early today, but has since recovered a bit. At the time of writing, the crypto’s price floats around $37.4k, down 15% in the last seven days. Over the past month, the coin has gained 3% in value.
The below chart shows the trend in the price of BTC over the last five days.BTC's price seems to have sharply gone down over the last few days | Source:
As uncertainties due to geopolitical tensions rise, investors have started exiting out of risk markets. This has resulted in a plunge in the price of Bitcoin.
Featured image from Unsplash.com, charts from TradingView.com, Glassnode.com