Over 40M Bitcoin Addresses Are In Profit As Apex Crypto Maintains $34K Levels
Portfolio Pulse from Mehab Qureshi
The number of profitable Bitcoin addresses has reached a new all-time high of nearly 40 million, despite Bitcoin's valuation trading at half its peak price. Data from Glassnode showed that 80% of Bitcoin addresses are now profitable, with Bitcoin hovering at $34,000. This bullish sentiment is likely bolstered by Bitcoin’s recent performance, maintaining a value above $34,000.
October 31, 2023 | 9:44 am
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The number of profitable Bitcoin addresses has reached a new all-time high, indicating a bullish sentiment towards Bitcoin despite its current valuation being half of its peak price.
The increase in the number of profitable Bitcoin addresses, despite the cryptocurrency trading at half its peak price, indicates a strong investor sentiment. This could potentially lead to an increase in demand for Bitcoin, thereby driving its price up in the short term.
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