{"id":563525,"date":"2023-12-02T11:30:19","date_gmt":"2023-12-02T11:30:19","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=563525"},"modified":"2024-06-11T09:21:19","modified_gmt":"2024-06-11T09:21:19","slug":"over-80-of-bitcoin-holders-now-in-profit-report","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/over-80-of-bitcoin-holders-now-in-profit-report\/","title":{"rendered":"Over 80% Of Bitcoin Holders Now In Profit &#8211; Report"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In the last week, Bitcoin has garnered much attention, gaining 2.58 % in seven days, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap<\/a>. During this time, the premier cryptocurrency has moved from trading around\u00a0 $37,800 to almost breaching the $39,000 price mark.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following this positive price movement, Bitcoin has recorded some impressive metrics, which could bolster investors&#8217; interest in the coming weeks.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/coinbase\/coinbase-coin-up-by-250-heres-why-its-outperforming-btc-and-eth\/\" target=\"_blank\" rel=\"noopener \">Coinbase (COIN) Up By 250% \u2013 Here\u2019s Why It\u2019s Outperforming BTC And ETH<\/a><\/div>\n<h2><strong>Bitcoin Experiences Highest Profitability Level In Two Years<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Via a <a href=\"https:\/\/x.com\/intotheblock\/status\/79129176?s=20\" target=\"_blank\" rel=\"noopener nofollow\">Friday post on X,<\/a> blockchain analytics firm IntoTheBlock reported that 81.35% of all Bitcoin holders are currently in profit. This marks the highest profitability level experienced by BTC investors since December 2021, when the token was valued at over $50,000.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BTC Profitability Reaches Highest Since December 2021!<br \/>Over 80% of Bitcoin addresses are currently holding at a profit. This is the highest value since December 2021, when prices were above $50k per Bitcoin<br \/>\ud83d\udd17<a href=\"https:\/\/t.co\/qWhryCeM0D\" rel=\"nofollow\">https:\/\/t.co\/qWhryCeM0D<\/a> <a href=\"https:\/\/t.co\/Dod0PuuWbF\" rel=\"nofollow\">pic.twitter.com\/Dod0PuuWbF<\/a><\/p>\n<p>&mdash; IntoTheBlock (@intotheblock) <a href=\"https:\/\/twitter.com\/intotheblock\/status\/79129176?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 1, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, Bitcoin\u2019s profitability is likely to go higher, with several factors indicating the market leader may soon cross into the $40,000 price zone.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Firstly, there is currently a high level of optimism regarding the approval of a Bitcoin Spot exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). <\/span><span style=\"font-weight: 400\">On Friday, Bloomberg analyst James Seyffart injected much hype into the crypto community as<a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/bitcoin-etf-approval-date-hinted-by-expert-sec-decision-expected-january-5th-10th-2024\/\" target=\"_blank\" rel=\"noopener \"> he predicted that<\/a> this potential approval order would come between January 8 &#8211; January 10, 2024.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Therefore, in anticipation of the massive institutional demand a spot ETF could introduce to the BTC market, investors are likely to start increasing their Bitcoin holdings, which could result in a price boost in the following weeks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore,\u00a0 the US Federal Reserve Chairman Jerome Powell<a href=\"https:\/\/www.cnbc.com\/2023\/12\/01\/fed-chair-powell-calls-talk-of-cutting-rates-premature-and-says-more-hikes-could-happen.html#:~:text=However%2C%20the%20remarks%20gave%20some%20credence%20to%20the%20idea%20that%20the%20Fed%20at%20least%20is%20done%20hiking%20as%20the%20string%20of%20rate%20hikes%20since%20March%202022%20have%20cut%20into%20economic%20activity.%20Powell%20noted%20that%20inflation%20%E2%80%9Cis%20moving%20in%20the%20right%20direction.%E2%80%9D\" target=\"_blank\" rel=\"noopener nofollow\"> has made statements suggesting<\/a> that there would likely be no more rate hikes in the coming months.\u00a0<\/span><span style=\"font-weight: 400\">This development, if true, paves the way for Bitcoin, alongside other digital assets, to experience more price gains as increases in fed rate hikes are known to discourage investments in high-risk assets such as cryptocurrencies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, despite these favorable indicators, it is worth stating that the crypto market remains subject to multiple forces, and all investors are advised to conduct proper research before engaging with the market.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/mystery-bitcoin-whale-10000-btc\/\" target=\"_blank\" rel=\"noopener \">Mystery Bitcoin Whale Who Bought 10,000 BTC Has Been Exposed<\/a><\/div>\n<h2><strong>Bitcoin Network Fees Slashed By 50%<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In other positives for the BTC community, the Bitcoin network experienced a 50% decline in total fees in the last week. IntoTheBlock <a href=\"https:\/\/x.com\/intotheblock\/status\/05403631?s=20\" target=\"_blank\" rel=\"noopener nofollow\">reports<\/a> that this development was due to a drastic decline in ordinals-related transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Ordinals protocol, launched in January 2023, allows the creation of non-fungible tokens (NFTs) known as BRC-20 tokens on the Bitcoin network. Similar to the Ethereum network with its native NFTs, a high level of interest in Ordinals results in high network fees and vice versa.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin trades at $38,758, with a 0.17% decline in the last hour. Meanwhile, the asset\u2019s daily trading volume is up by 4.97% and is valued at $20.37 billion.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/eLCRVDnw\/\" alt=\"Bitcoin\" width=\"1480\" height=\"893\"><\/p>\n<pre style=\"text-align: center\">BTC trading at $38,810 on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD chart on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\"><em>Featured image from iStock, chart from Tradingview<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the last week, Bitcoin has garnered much attention, gaining 2.58 % in seven days, according to data from CoinMarketCap. During this time, the premier cryptocurrency has moved from trading around\u00a0 $37,800 to almost breaching the $39,000 price mark.\u00a0 Following this positive price movement, Bitcoin has recorded some impressive metrics, which could bolster investors&#8217; interest in the coming weeks. Related Reading: Coinbase (COIN) Up By 250% \u2013 Here\u2019s Why It\u2019s Outperforming BTC And ETH Bitcoin Experiences Highest Profitability Level In Two Years Via a Friday post on X, blockchain analytics firm IntoTheBlock reported that 81.35% of all Bitcoin holders are currently in profit. This marks the highest profitability level experienced by BTC investors since December 2021, when the token was valued at over $50,000. Interestingly, Bitcoin\u2019s profitability is likely to go higher, with several factors indicating the market leader may soon cross into the $40,000 price zone.\u00a0 Firstly, there is currently a high level of optimism regarding the approval of a Bitcoin Spot exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). On Friday, Bloomberg analyst James Seyffart injected much hype into the crypto community as he predicted that this potential approval order would come between January 8 &#8211; January 10, 2024. Therefore, in anticipation of the massive institutional demand a spot ETF could introduce to the BTC market, investors are likely to start increasing their Bitcoin holdings, which could result in a price boost in the following weeks.\u00a0 Furthermore,\u00a0 the US Federal Reserve Chairman Jerome Powell has made statements suggesting that there would likely be no more rate hikes in the coming months.\u00a0This development, if true, paves the way for Bitcoin, alongside other digital assets, to experience more price gains as increases in fed rate hikes are known to discourage investments in high-risk assets such as cryptocurrencies.\u00a0 However, despite these favorable indicators, it is worth stating that the crypto market remains subject to multiple forces, and all investors are advised to conduct proper research before engaging with the market. Related Reading: Mystery Bitcoin Whale Who Bought 10,000 BTC Has Been Exposed Bitcoin Network Fees Slashed By 50% In other positives for the BTC community, the Bitcoin network experienced a 50% decline in total fees in the last week. IntoTheBlock reports that this development was due to a drastic decline in ordinals-related transactions. The Ordinals protocol, launched in January 2023, allows the creation of non-fungible tokens (NFTs) known as BRC-20 tokens on the Bitcoin network. Similar to the Ethereum network with its native NFTs, a high level of interest in Ordinals results in high network fees and vice versa.\u00a0 At the time of writing, Bitcoin trades at $38,758, with a 0.17% decline in the last hour. Meanwhile, the asset\u2019s daily trading volume is up by 4.97% and is valued at $20.37 billion.\u00a0 BTC trading at $38,810 on the daily chart | Source: BTCUSD chart on Tradingview.com Featured image from iStock, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":563529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85960,90648,1144,78790],"class_list":["post-563525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-holders","tag-bitcoin-profitability","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Over 80% Of Bitcoin Holders Now In Profit - Report<\/title>\n<meta name=\"description\" content=\"Following its recent positive price movement, Bitcoin has recorded some impressive metrics, which could boost investors&#039; 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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