Bitcoin Has taken the center of the crypto market again. After the market was revived, the property of the flagship rose more than $ 99,000. During the sudden restoration of the price, a significant part of BTC moved back to the profit territory.
Millions of bitcoins return to profits
The updated general market rose to the level of bitcoin's price. Since cryptocurrency stays a price rebound, the leading financial and chain data platform Glassnode is attention A huge role in returning to Bitcoin's profits.
During the Glassnode report, Bitcoin had gained momentum as its price rose to $ 97,900, marking the highest level of the last two months. The data show that over 3 million BTCs are now in the profit zone after the price is restored, which gave market participants relief.
Previously underwater BTC return to a profit territory is likely to reinforce Investor confidence and strengthens the market about the sustainability of a recent rally. In addition, the development could set the basis for possible permanent upside down to important levels such as $ 100,000.
Currently, the percentage of Bitcoin's overall profits has risen to 88%, the losses have previously concentrated among buyers from $ 95,000 and $ 100,000To. This positive progress of the profitability of the offer will signal the upcoming euphoria phase.
After the offer of the offer of oscillator Glassnode highlighted The fact that the metric had collided with a long -term average, referring to the wider reset of the investor's expectations without extensive surrender.
Should the percentage equipment Profit increase continues to increase, which can cause a large BTC rally as investors' involvement increases in anticipation of the rise. Thus, the continuing upward movement may be part of the larger trend.
Short -term BTC owners selling growing profitability
Although it is believed that a significant number of BTC returns to a profit trigger investors' confidence, this does not apply to short-term owners. Alfractal, advanced chain data platform, exposed Among these investors, a surprising trend, even when a recent return, is pushing short -term owners to profits.
According to the chain platform, the cost of the short -term owners has been hit, but these players permanently share their stake. Surprisingly, this growing sales pressure is due to their return on their profitability by raising questions about the potential short -term setbackTo.
Alphractal claimed that sth realized price is currently $ 93,400 and Bitcoin should ideally preserve this level in the near future fresh sales wave From the incident. In the meantime, this area acts as a specific base for setbacks and short -term owners are likely to do their best.
During this writing, BTC traded at $ 99,700, which showed almost 4%of last week's rise. Trading volume has also increased dramatically alongside the price. Coinmarketcap data shows that the previous day the trading volume is increasing by more than 60%, reflecting bullish's conviction.
Highlighted Picture from Pixabay, Schedule from TradingView.com
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