TL; DR failure:
- After the price of Bitcoin increased to more than $ 52,000, the profit of Bitcoin reached its maximum in the last 3 months.
- More people are still collecting BTC. More than $ 1.7 billion BTC was transferred from exchanges in the last 24 hours.
Bitcoin (BTC), the leading digital currency, started well in September. Prices have gradually risen amid several bullish indicators, including declining inventories on all exchanges. Following El Salvador’s news of Bitcoin acceptance, the price of Bitcoin rose more than $ 52,000 on Monday, resulting in an increase in the number of addresses and the offering of bitcoins in profit mode.
87.8 supply Bitcoin supply returns in 3 months profit
In accordance with data More than 16.49 million BTC (7d MA) offerings returned from Glassnode amid rising prices. This means that 87.8% of the bitcoin supply and 34,069,565 addresses are currently in profit. The last time such a number of addresses were profitable was three months ago, before the fall in mid-May.
This data is related to price changes in Bitcoin. An increase in bitcoin increases the number of addresses in profit, while a decrease in price reduces their profitability. For example, the loss of Bitcoin has decreased to 2,274,560,001 BTC, which is the lowest level in the last 3 months.
The accumulation of bitcoin continues
All bitcoin chain exchange outputs continue to grow, reflecting the high level of demand and accumulation in the bitcoin market. Many analysts have reported outputs, and declining BTC supply in exchanges is a sound measure that could keep prices on the rise.
In the last 24 hours, the net flow of chain transactions was negative – $ 413.9 million, meaning that outflows were higher than inputs. More than $ 1.7 billion in bitcoins were transferred per glassnode.