Bitcoin has taken the market by storm as it exceeds $65K, quickly approaching its $69K all-time high (ATH) forged in November 2021.
The unprecedented possibility of Bitcoin making a pre-halving ATH has ignited a frenzy, sending many altcoins surging. One is a new presale token called Green Bitcoin, which has just crossed the $1.6 million raised mark.
97% Of Bitcoin Addresses In Profit as Bitcoin Run Continues
New data reveals that Bitcoin’s recent uptick puts 97% of addresses in profit. The report was published two days ago by the market intelligence platform IntoTheBlock.
As per the report, the average purchase price of wallets holding Bitcoin, compared with the price at the time of writing ($61,534), means 97% of addresses have a lower average entry price than the going rate.
But Bitcoin has jumped to over $65K since the report was published, indicating that an even higher percentage of wallets are in profit.
“Given the substantial percentage of addresses in profit, the selling pressure from users attempting to break even no longer has a significant effect,” the report explained.
This is crucial for the Bitcoin price, mainly because new data shows that Bitcoin demand is simultaneously accelerating.
A recent tweet by respected analyst Ali Martinez, who goes by Ali_Charts on X, explained, “Around $48.54 billion are flowing into the crypto market, the highest capital inflow since October 2021!”
Ali then displayed a chart illustrating the daily net inflows incrementally rising throughout Q4 2023 and Q1 2024.
In an earlier tweet, the analyst noted that $110 million in short liquidations would occur if Bitcoin hits $63.4K.
It hit the mark some hours later, causing a dramatic uptick in price that propelled BTC to beyond $65K.
Its current price of $65K places it at its highest level since the week of its ATH in November 2021.
Consequently, analysts anticipate Bitcoin may break its ATH this week. This would be unprecedented with Borovik.eth noting that BTC has never made a pre-halving ATH before.
The Bitcoin halving is set to occur in April, just over one month away.
In the tweet, Borovik.eth speculated that it “looks like this time is different, meaning this cycle might be longer than previous ones.”
He then suggested that the bull run may continue until Q4 2025.
But while Bitcoin is showing impressive strength, many altcoins are following suit. One of those is the new ICO Green Bitcoin, which recently exceeded $1.6 million in its presale.
Predict-to-Earn Token Green Bitcoin Hits $1.6M and Provides 204% Staking APY
Offering a flagship predict-to-earn model, Green Bitcoin is a compelling new project on the Ethereum network.
As a green alternative to Bitcoin, $GBTC rewards will be distributed via staking rather than mining. This makes Green Bitcoin notably more environmentally friendly than the original Bitcoin while holding the same community-first focus.
Currently, Green Bitcoin stakers can garner a generous 204% APY. This is a multi-faceted approach to bolstering the project’s tokenomics, encouraging long-term holding while rewarding and nurturing the community.
However, the staking APY will decrease as more tokens are deposited, so those looking to maximize their investment should hurry.
Green Bitcoin’s predict-to-earn mechanism invites users to guess whether Bitcoin’s price will rise or fall the next day. This gamified twist taps into the emerging prediction market narrative, which analysts believe could be one of crypto’s most powerful new use cases.
Resultantly, traders are massively bullish on Green Bitcoin, with Michael Wrubel telling his 310K YouTube subscribers he went “all in” on the project.
The current $GBTC presale price is $0.5742, but this is set to rise throughout the campaign, with the next increase in just over three days. With that in mind, those looking to secure the most upside potential should act fast.
