83% Of All Bitcoin Holders Still In Profit Despite Drop Below $60,000

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,796,930,329,986	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,796,930,329,986

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	69.48	0.08%	91,129.92	91,125.02	91,125.03

Price Change

Price Change %

Current Price

Bid Price

Offer

69.48

0.08%

91,129.92

91,125.02

91,125.03

High Price	Low Price	Open Price	Prev. Close	52 Week Range
91,820.73	90,502.71	90,957.76	91,060.44	35,511.11 - 93,495.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

91,820.73

90,502.71

90,957.76

91,060.44

35,511.11 - 93,495.00

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	13:09:29	0.000092	91,135.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

13:09:29

0.000092

91,135.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
423,731,057.79	4,644.00	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

423,731,057.79

4,644.00

83% Of All Bitcoin Holders Still In Profit Despite Drop Below $60,000

10/07/2024 3:00am

NEWSBTC

Over the weekend, the Bitcoin price dropped below $60,000 amid rapid selling by major holders such as the German and US governments. This led to one of the largest drops seen for the pioneer cryptocurrency in the last two years, costing the market billions of dollars. However, despite this, Bitcoin holders are still seeing major gains, with the vast majority of investors currently in profit despite the market crash. Bitcoin Holders Enjoy Massive Gains According to data from the on-chain tracker IntoTheBlock, there are around 53.57 million Bitcoin holders worldwide. Of these investors, a total of 83% are still seeing profit despite the BTC price drop below $60,000, as it currently sits just above $56,000. Related Reading: Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins This figure leaves just around 17% of the total BTC holders that are not currently seeing a profit. Out of this figure, 13% are losing money, meaning they bought their BTC coins when the price was higher than the current value, leaving 4% of holders at breakeven. This means that this 4% bought their coins around the current value, so they are neither making nor losing money at the current price. At these percentages, it means that around 44.61 million Bitcoin investors are still enjoying profits in their positions. 6.8 million BTC holders are suffering losses now, and around 2.16 million investors are currently sitting at breakeven. Interestingly, the majority of these investors sitting in profit have their entry prices below $50,000, meaning that even with another 10% crash from here, the vast majority of Bitcoin investors would still be seeing their holdings in profit. BTC Long-Term Holders At Risk Of Losses While the data shows that the vast majority of Bitcoin investors are still seeing profits, there is a growing trend that is particularly affecting long-term holders. According to a Sentiment report, the average returns of Bitcoin long-term holders risk falling into losses for the first time in more than one year. Related Reading: Finance CEO Raoul Pal Says Crypto Will Reach $100 Trillion Market Cap – Here’s When However, this is not a negative thing for the price, given how BTC has responded in the past when the average long-term holder returns fell into the red. As Santiment notes, this is usually a good time to buy, especially when “Bitcoin’s 30-day and 365-day MVRV are in negative territory.” The tracker further added, “This is when there is mathematical validation that you are buying relative to other traders’ pain.” To put how much of a good buying opportunity this is, “If you had bought the last time both of these lines were in negative territory, your return on BTC would be at +132%,” Santiment notes. To put it in plain terms, developments like these can often be a good indicator of where the bottom is and when to start buying. Featured image created with Dall.E, chart from Tradingview.com

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