{"id":538719,"date":"2023-06-20T11:24:22","date_gmt":"2023-06-20T11:24:22","guid":{"rendered":"https:\/\/wncen.com\/?p=538719"},"modified":"2024-06-11T08:13:43","modified_gmt":"2024-06-11T08:13:43","slug":"bullish-signal-bitcoin-realized-profit-and-loss-fall-to-october-2020-levels","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bullish-signal-bitcoin-realized-profit-and-loss-fall-to-october-2020-levels\/","title":{"rendered":"Bullish Signal: Bitcoin Realized Profit And Loss Fall To October 2020 Levels"},"content":{"rendered":"

As the Bitcoin price continues to struggle, some metrics have begun to emerge that could mean that the current bearish trend is only temporary. The realized profit and loss levels for BTC have continued to fall over the last six months and have now hit a level that suggests the start of another upward rally.<\/p>\n

Bitcoin Realized Profit And Loss At Two-Year Lows<\/h2>\n

Data from on-chain aggregator Glassnode shows that the realized profit and loss among Bitcoin holders have been on the decline. This fall in realized profit and loss follows the rollercoaster price action recorded over the course of 2023 so far, and as the price has struggled with the $26,000 level, the realized profit and loss margins have fallen to October 2020 levels.<\/p>\n

Related Reading: Crypto Market Bleeds As SEC Pressures Mount, Is It Time To Buy?<\/a><\/div>\n

Now, the realized profit and loss levels are important because it shows the amount of profit-taking and loss-taking happening in the market. Profit-taking occurs when investors are selling their BTC for a higher price than they purchased them, and loss-taking is when they are selling for a lower amount than it was purchased. A drop in both of these indicates that there is less selling happening in the market right now.<\/p>\n

\"Bitcoin<\/p>\n

BTC realized profit and loss drops to 2020 levels | Source: Glassnode<\/a><\/pre>\n
This is bullish for the price of Bitcoin because the selling pressure is now dropping, making room for the price of BTC to rebound. It also means a reduction in the available BTC supply in the market as investors opt to hold rather than sell. This allows room for growth in demand and can translate to a further increase in the price of the digital asset.<\/p>\n
The Start Of Another BTC Bull Run?<\/h2>\n
The last time that the realized profit and loss levels fell this low was back in October 2020 which marked the start of the bull market. It was an almost non-stop climb from October 2020 to the new year where BTC went from around $11,000 to over $30,000 in a matter of months.<\/p>\n
\"Bitcoin<\/p>\n
BTC price recovers above $26,700 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
If this exact scenario were to repeat once more, then it is possible that the price of BTC would climb as high as $40,000 in a month, provided that the bulls are able to sustain this rally. This also presents a more bullish scenario for the digital asset, showing that the bearish trend may have reached the end of its rope.<\/p>\n
Related Reading: Crypto Analyst Says Bitcoin Has Already Bottomed, Sets Halving Price<\/a><\/div>\n
A similar climb to the October 2020 rally would mean a 200% rise over the next couple of months, and from the current level, a 200% increase would see BTC peaking above $60,000.<\/p>\n
Nevertheless, the bulls continue to battle the bears as BTC was rejected at the $27,000 resistance on Monday. The digital asset remains in the green, however, up 1.46% in the last 24 hours to trade at $26,765 at the time of writing.<\/p>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
As the Bitcoin price continues to struggle, some metrics have begun to emerge that could mean that the current bearish trend is only temporary. The realized profit and loss levels for BTC have continued to fall over the last six months and have now hit a level that suggests the start of another upward rally. Bitcoin Realized Profit And Loss At Two-Year Lows Data from on-chain aggregator Glassnode shows that the realized profit and loss among Bitcoin holders have been on the decline. This fall in realized profit and loss follows the rollercoaster price action recorded over the course of 2023 so far, and as the price has struggled with the $26,000 level, the realized profit and loss margins have fallen to October 2020 levels. Related Reading: Crypto Market Bleeds As SEC Pressures Mount, Is It Time To Buy? Now, the realized profit and loss levels are important because it shows the amount of profit-taking and loss-taking happening in the market. Profit-taking occurs when investors are selling their BTC for a higher price than they purchased them, and loss-taking is when they are selling for a lower amount than it was purchased. A drop in both of these indicates that there is less selling happening in the market right now. BTC realized profit and loss drops to 2020 levels | Source: Glassnode This is bullish for the price of Bitcoin because the selling pressure is now dropping, making room for the price of BTC to rebound. It also means a reduction in the available BTC supply in the market as investors opt to hold rather than sell. This allows room for growth in demand and can translate to a further increase in the price of the digital asset. The Start Of Another BTC Bull Run? The last time that the realized profit and loss levels fell this low was back in October 2020 which marked the start of the bull market. It was an almost non-stop climb from October 2020 to the new year where BTC went from around $11,000 to over $30,000 in a matter of months. BTC price recovers above $26,700 | Source: BTCUSD on TradingView.com If this exact scenario were to repeat once more, then it is possible that the price of BTC would climb as high as $40,000 in a month, provided that the bulls are able to sustain this rally. This also presents a more bullish scenario for the digital asset, showing that the bearish trend may have reached the end of its rope. Related Reading: Crypto Analyst Says Bitcoin Has Already Bottomed, Sets Halving Price A similar climb to the October 2020 rally would mean a 200% rise over the next couple of months, and from the current level, a 200% increase would see BTC peaking above $60,000. Nevertheless, the bulls continue to battle the bears as BTC was rejected at the $27,000 resistance on Monday. The digital asset remains in the green, however, up 1.46% in the last 24 hours to trade at $26,765 at the time of writing. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":538724,"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":[428,86685,679,7159,1119,1144,78790],"class_list":["post-538719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-loss","tag-bitcoin-price","tag-bitcoin-profit","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBullish Signal: Bitcoin Realized Profit And Loss Fall To October 2020 Levels<\/title>\n<meta name=\"description\" content=\"As the Bitcoin price continues to struggle, some metrics have begun to emerge that could mean that the current bearish trend is only temporary. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bullish Signal: Bitcoin Realized Profit And Loss Fall To October 2020 Levels","url":"http:\/\/wncen.com\/news\/bullish-signal-bitcoin-realized-profit-and-loss-fall-to-october-2020-levels\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bullish-signal-bitcoin-realized-profit-and-loss-fall-to-october-2020-levels\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-148243270-3.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/iStock-148243270-3.jpg?fit=1310%2C801"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin loss","bitcoin price","bitcoin profit","btc","btcusd","btcusdt"],"dateCreated":"2023-06-20T11:24:22Z","datePublished":"2023-06-20T11:24:22Z","dateModified":"2024-06-11T08:13:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bullish Signal: Bitcoin Realized Profit And Loss Fall To October 2020 Levels\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bullish-signal-bitcoin-realized-profit-and-loss-fall-to-october-2020-levels\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bullish-signal-bitcoin-realized-profit-and-loss-fall-to-october-2020-levels\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-148243270-3.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-148243270-3.jpg?fit=1310%2C801\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin loss\",\"bitcoin price\",\"bitcoin profit\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2023-06-20T11:24:22Z\",\"datePublished\":\"2023-06-20T11:24:22Z\",\"dateModified\":\"2024-06-11T08:13:43Z\"}<\/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\/06\/iStock-148243270-3.jpg?fit=1310%2C801","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/538719"}],"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\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=538719"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/538719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/538724"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=538719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=538719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=538719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}