Bitcoin (BTC) is making headlines as it jumps over 10% in just one week! In the last 24 hours alone, its price rose by more than 2%, crossing the important $67,300 mark. With 95% of Bitcoin addresses now in profit, excitement is in the air. Typically, when so many addresses are thriving, it signals strong growth ahead.
However, as the buzz grows, a big question remains: Will Bitcoin reach new highs, or are we facing a potential price drop?
Recent data from IntoTheBlock shows that over 51 million Bitcoin addresses are currently in profit. This impressive figure accounts for 95% of all BTC holders who bought their assets for less than $67,300.
In contrast, about 3.37 million addresses purchased Bitcoin at an average price of $68,139, holding around 1.58 million BTC. Among the profitable addresses, more than 80,000 are active daily, showing strong market engagement.
Additionally, about 247,000 holders are close to breaking even on their investments, while only 3,440 addresses are showing losses. These numbers indicate a significant shift in market sentiment, suggesting that bullish momentum is building.
A major reason for Bitcoin’s recent price rise is the increase in short liquidations. According to Coinglass, over $118 million in crypto assets were liquidated in just 24 hours, affecting 43,903 traders. This spike in liquidations can lead to rapid price changes, impacting overall market trends.
In addition to liquidations, there has been a substantial influx of funds into U.S. Bitcoin exchange-traded funds (ETFs), totaling $555.9 million. This influx has further boosted confidence among investors and traders.
Despite some recent price corrections, Bitcoin continues to trade around $67,450, reflecting a 1% increase in the past 24 hours.
The stage is set for a Bitcoin breakout. Are you ready to join the party?
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