Bitcoin Hovers Near ATH, Most Holders in Profit: On-Chain Metrics Bullish

IconCryptoNewsTerminal Staff29 Jul, 2024

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Bitcoin Hovers Near ATH, Most Holders in Profit: On-Chain Metrics Bullish

Bitcoin Hovers Near All-Time High, Majority of Holders in Profit As Bitcoin (BTC) inches closer to its all-time high (ATH), data from on-chain analytics platform IntoTheBlock reveals that most Bitcoin holders are currently in profit. This positive sentiment is further reinforced by bullish on-chain metrics, suggesting continued optimism in the crypto markets. The data shows that a significant portion of Bitcoin holders have held onto their coins for over a year, indicating long-term confidence in the asset. Additionally, the number of active addresses on the Bitcoin network has been steadily increasing, suggesting growing adoption and usage. Overall, the combination of high holder profitability and positive on-chain metrics paints a bullish picture for the cryptocurrency market. Investors remain optimistic about Bitcoin's future prospects, and the recent price action supports this sentiment. As the digital asset approaches its previous ATH, the stage is set for further gains in the coming weeks and months.

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