Bitcoin's BTC/USD short-term market performance has seen better times. However, on-chain data analysis revealed that even though the seven-day average of Bitcoin addresses in profit recently reached a two-year low of nearly 55.7%, it still implies most are still profiting.
What Happened: On-chain data shows that the number of Bitcoin addresses holding at least 0.01 BTC (equivalent to nearly $210 as of press time) just reached a new record high. According to data shared in a Tuesday tweet by an account of Glassnode dedicated to sharing findings of the blockchain data firm, there are currently 10,242,541 addresses holding at least 0.01 BTC — which is a new all-time high.
See Also: How To Earn Free Crypto
Despite this, things are less than optimal for Bitcoin right now. Bitcoin's HODLer net position change reached a one-month low of -478.724 BTC — meaning that long-term investors sold 478.724 BTC (worth nearly $10 million) compared to a month ago. According to a dedicated tweet, the previous one-month low of -249.794 was observed on Saturday.
📉 #Bitcoin $BTC HODLer Net Position Change just reached a 3-month low of -823.989
— glassnode alerts (@glassnodealerts) June 22, 2022
Previous 3-month low of -762.683 was observed on 29 March 2022
View metric:https://t.co/CU3jPaaHXh pic.twitter.com/U6S6CpY5A7
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
