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82% of Bitcoin holders are ‘in the money’

82% of Bitcoin holders are ‘in the money’

Bitcoin (BTC) is trading at $34,795 by press time, in a strong momentum for the leading cryptocurrency, with more than 25% gains in a week.

With this move, 82% of all crypto wallet addresses holding Bitcoin are “In the Money”, according to data retrieved by Finbold from IntoTheBlock, on October 25. On the other hand, 11% of all Bitcoin holders are carrying unrealized losses, while 7% are in a breakeven position.

Notably, only 11% of all the holders are made of what IntoTheBlock classifies as “Investors” and “Whales” for addresses holding more than 0.1% and 1% of Bitcoin’s circulating supply, respectively.

Moreover, 70% are long-term holders, having acquired their coins more than one year ago, 24% are holding between 1 to 12 months, and 6% are short-term holders that just recently bought their current balances.
It is important to understand that with a large percentage of holders “In the Money” or at a breakeven position, there is also a higher chance of these holders deciding to sell their holdings to realize the gains or protect against further losses if the sentiment turns bearish.

Bitcoin holders’ data
Bitcoin holders’ data. Source: IntoTheBlock

Signals reveal a bullish trend for Bitcoin holders

However, trend signals from IntoTheBlock reveal the bullish momentum for Bitcoin could continue for a while.

The consolidated signal shows a “Mostly Bullish” trend, with 3 out of 7 signals pointing towards continuation. While 2 points toward a neutral sentiment, and 2 suggests a bearish pivot.

Bitcoin bullish/bearish signals.
Bitcoin bullish/bearish signals. Source: IntoTheBlock

Interestingly, one of the bullish signals is the sudden increase for “In The Money” holders, plus an imbalance towards “buy orders” on exchanges and also a surge in derivatives. At the time of publication, Open Interest volume for Bitcoin has surpassed August levels, validating the current trend.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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