Three-quarters of BTC addresses still in profit despite market decline
The price of Bitcoin (BTC) has been on the decline again recently, but new insights from blockchain analytics firm Glassnode show that up to 75% of Bitcoin addresses are in profit. This is much higher than the 45% to 50% of addresses during the 2018 bear market.
The report further revealed that long-term holders of Bitcoin, those who have held for over 155 days, were the least likely to be at a loss. More than 67.5% of long-term holders are at an unrealized profit, whereas short-term holders have seen only 7.88% make any gains.