{"id":557480,"date":"2023-10-25T13:00:28","date_gmt":"2023-10-25T13:00:28","guid":{"rendered":"https:\/\/wncen.com\/?p=557480"},"modified":"2024-06-11T09:17:25","modified_gmt":"2024-06-11T09:17:25","slug":"bitcoin-35000-holder-profitability","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-35000-holder-profitability\/","title":{"rendered":"Bitcoin Bounce Above $35,000 Puts Holder Profitability At Yearly Highs"},"content":{"rendered":"

Bitcoin has had an eventful week in terms of price action. The world’s largest crypto saw an 18% increase in the past seven days, its highest percentage increase this year. This unexpected surge caused a flurry of short position liquidations, and according to Glassnode, 60,000 BTC worth of futures positions were closed. Amidst all the price surge, data from Glassnode has shown a large portion of investors are now breaking above profit.\u00a0<\/span><\/p>\n

Bitcoin Surges Past $35,000, Flipping Millions of Coins Into Profit<\/h2>\n

Bitcoin bulls managed to push Bitcoin <\/span>price above $35,100<\/span><\/a> in the past 24 hours, marking the biggest one-day increase this year. The upward movement began near the $25,000 level and continued until it reached its new yearly high.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Spot ETF Approval: Why Price Could Be Set For 300% Surge<\/a><\/div>\n

A blockchain analytics platform Glassnode <\/span>report <\/span><\/a>showed that Bitcoin zooming past $35,000 is a big deal for holders. At this price level, millions of BTC holdings were pushed into profitability. During this rally, the percent of supply in profit from the $25,000 to $35,000 price jump increased by a massive 4.7M BTC, equivalent to 24% of the total circulating supply.\u00a0<\/span><\/p>\n

Long-term investors, in particular, had a big break in profit at this price point. Although approximately 29.6% of long-term holder supply is still held at a loss, their aggregate holdings recently broke into a new all-time high of 14.899 million BTC.<\/span><\/p>\n

\"Bitcoin\r\nSource: Glassnode<\/pre>\n
Short-term holders were also not left out, as investor confidence has recovered from bearish to neutral on the cost-basis models. We’re now at a crossover point to a positive bullish sentiment for short-term holders. A look into the average buy price of short-term holders puts the majority of entry into the market at $28,000, indicating a profit margin for both short and long-term traders.\u00a0<\/span><\/p>\n
\"BitcoinSource: Glassnode<\/pre>\n
What’s Behind Bitcoin’s Sudden Price Surge?<\/h2>\n
The sudden surge in Bitcoin can be attributed to the <\/span>excitement behind the approval<\/span><\/a> of BlackRock’s spot Bitcoin ETFs application. Bitcoin backers pointed to the listing of BlackRock\u2019s iShares Bitcoin Trust on the Depository Trust and Clearing Corporation (DTCC) website, suggesting that BlackRock had begun seeding money for the ETF.\u00a0<\/span><\/p>\n
Related Reading: Chainlink (LINK) Surge Far From Done As Crypto Analyst Predicts Rise To $15<\/a><\/div>\n
Although Bitcoin has since <\/span>shed off some of this price gain<\/span><\/a> and is now trading at $33,860 at the time of this writing, metrics show that 80% of holders are making money at the current price. Exchange signals also <\/span>point to bullish momentum<\/span><\/a>, as traders are now exchanging their assets for BTC on crypto exchanges.<\/span><\/p>\n
The rise in the value of Bitcoin to $35,000 was reflected in the stock prices of crypto-related companies like Coinbase and MicroStrategy. At that price, <\/span>MicroStrategy’s Bitcoin holdings<\/span><\/a> would have generated a profit of $857 million for the company.<\/span><\/p>\n
\"Bitcoin<\/p>\n
BTC reclaims $34,000 once more | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Outlook India, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has had an eventful week in terms of price action. The world’s largest crypto saw an 18% increase in the past seven days, its highest percentage increase this year. This unexpected surge caused a flurry of short position liquidations, and according to Glassnode, 60,000 BTC worth of futures positions were closed. Amidst all the price surge, data from Glassnode has shown a large portion of investors are now breaking above profit.\u00a0 Bitcoin Surges Past $35,000, Flipping Millions of Coins Into Profit Bitcoin bulls managed to push Bitcoin price above $35,100 in the past 24 hours, marking the biggest one-day increase this year. The upward movement began near the $25,000 level and continued until it reached its new yearly high.\u00a0 Related Reading: Bitcoin Spot ETF Approval: Why Price Could Be Set For 300% Surge A blockchain analytics platform Glassnode report showed that Bitcoin zooming past $35,000 is a big deal for holders. At this price level, millions of BTC holdings were pushed into profitability. During this rally, the percent of supply in profit from the $25,000 to $35,000 price jump increased by a massive 4.7M BTC, equivalent to 24% of the total circulating supply.\u00a0 Long-term investors, in particular, had a big break in profit at this price point. Although approximately 29.6% of long-term holder supply is still held at a loss, their aggregate holdings recently broke into a new all-time high of 14.899 million BTC. Source: Glassnode Short-term holders were also not left out, as investor confidence has recovered from bearish to neutral on the cost-basis models. We’re now at a crossover point to a positive bullish sentiment for short-term holders. A look into the average buy price of short-term holders puts the majority of entry into the market at $28,000, indicating a profit margin for both short and long-term traders.\u00a0 Source: Glassnode What’s Behind Bitcoin’s Sudden Price Surge? The sudden surge in Bitcoin can be attributed to the excitement behind the approval of BlackRock’s spot Bitcoin ETFs application. Bitcoin backers pointed to the listing of BlackRock\u2019s iShares Bitcoin Trust on the Depository Trust and Clearing Corporation (DTCC) website, suggesting that BlackRock had begun seeding money for the ETF.\u00a0 Related Reading: Chainlink (LINK) Surge Far From Done As Crypto Analyst Predicts Rise To $15 Although Bitcoin has since shed off some of this price gain and is now trading at $33,860 at the time of this writing, metrics show that 80% of holders are making money at the current price. Exchange signals also point to bullish momentum, as traders are now exchanging their assets for BTC on crypto exchanges. The rise in the value of Bitcoin to $35,000 was reflected in the stock prices of crypto-related companies like Coinbase and MicroStrategy. At that price, MicroStrategy’s Bitcoin holdings would have generated a profit of $857 million for the company. BTC reclaims $34,000 once more | Source: BTCUSD on Tradingview.com Featured image from Outlook India, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":557486,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[89715,428,656,7159,1119,89185,1144,78790,6664,14690,37455],"class_list":["post-557480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoi-holders","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-profit","tag-btc","tag-btc-news","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-news","tag-crypto-traders"],"acf":[],"yoast_head":"\nBitcoin Bounce Above $35,000 Puts Holder Profitability At Yearly Highs<\/title>\n<meta name=\"description\" content=\"Bitcoin has had an eventful week in terms of price action as the world's 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bounce Above $35,000 Puts Holder Profitability At Yearly Highs","url":"http:\/\/wncen.com\/news\/bitcoin-35000-holder-profitability\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-35000-holder-profitability\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Bitcoin-profit.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Bitcoin-profit.jpeg?fit=1200%2C675"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoi holders","bitcoin","bitcoin news","bitcoin profit","btc","btc news","btcusd","btcusdt","crypto","crypto news","crypto traders"],"dateCreated":"2023-10-25T13:00:28Z","datePublished":"2023-10-25T13:00:28Z","dateModified":"2024-06-11T09:17:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bounce Above $35,000 Puts Holder Profitability At Yearly Highs\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-35000-holder-profitability\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-35000-holder-profitability\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Bitcoin-profit.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Bitcoin-profit.jpeg?fit=1200%2C675\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoi holders\",\"bitcoin\",\"bitcoin news\",\"bitcoin profit\",\"btc\",\"btc news\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto news\",\"crypto traders\"],\"dateCreated\":\"2023-10-25T13:00:28Z\",\"datePublished\":\"2023-10-25T13:00:28Z\",\"dateModified\":\"2024-06-11T09:17:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Bitcoin-profit.jpeg?fit=1200%2C675","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/557480"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=557480"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/557480\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/557486"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=557480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=557480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=557480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}