Bitcoin Nears Record High, Investors See 139% Profitability
The Essentials in Brief
Bitcoin has surpassed the $59,000 mark and is approaching its all-time high. The bull market, driven by strong inflows into spot ETFs, led to a weekly growth of 13% and more than 37% over the month. Short-term investors are realizing 2% profits from their sales.
Bitcoin Investors Secure Profits
The market boom has driven the average profitability of Bitcoin investors to new heights. According to an analysis of Glassnode data by AMBCrypto, investors held an unrealized profit of 139% at the time of publication.
Short-term Investors Increase Trading Activity
A recent report by Glassnode showed that the market was selling coins at an average profit of 13%. While long-term investors who weathered the harsh bear market sold with 2x profits, short-term investors also secured 2% profits from their sales. These short-term investors, also known as active market traders, have increased their exchange interactions in recent months. Data showed that they have been sending $2 billion to the exchanges daily since mid-January, reaching a new all-time high of $2.46 billion.
Long-term Investors Prefer HODLing
Long-term investors, on the other hand, made far fewer deposits. This was to be expected as these “diamond hands” attempted to accumulate from a rapidly dwindling supply. Despite surrendering a significant portion of their holdings last month, long-term investors still held three-quarters of the Bitcoin supply.
Our Assessment
Over time, Bitcoin’s narrative as a store of value has strengthened. With the supply/demand economics to its advantage, it would not be surprising if the diamond hands would hold onto their Bitcoins forever. The greater participation of short-term investors suggests that the market’s risk appetite is increasing. It remains exciting to observe how the market will continue to evolve and what impact this will have on investors.
Sources: AMBCrypto, Glassnode, CoinMarketCap, Santiment.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Price | $97,358.00 |
| 24h % | 2.54 % |
| 7d % | -3.87 % |
| 30d % | -0.12 % |
| 60d % | 45.42 % |
| 1y % | 120.93 % |
| Market Cap | $1,925,037,076,972.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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