Bitcoin [BTC]: Recent price jump has put holders in profit, new report shows

At press time, BTC was trading at a price level last seen in August 2022. The rally in price since the beginning of the year has put many holders in profit. Strong gains between 20 – 22 January pushed Bitcoin’s [BTC] price to rally by over 2% during the intraday trading session on 23 January. […]

With BTC currently exchanging hands above the $23,000 price mark, leading on-chain data provider Glassnode, in a new

According to Glassnode, in the current bear market that began in November 2021, BTC’s Net Realized Profit and Loss metric has suffered two large capitulation events , which resulted in a net loss of 2.9% and 3.7% of the king coin’s market capitalization per week, respectively. “Promising sign of healing after the heavy deleveraging pressures inflicted in the second half of 2022.”Further, in determining what new BTC investors have been up to, Glassnode assessed the coin’s Percentage of Short-Term Holder Supply in Profit metric. It found that the recent surge in Bitcoin’s price to $23,000 pushed this metric to above 97.5% in profit for the first time since the all-time high in November 2021.

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