Bitcoin (BTC), the leading digital currency, has seen a 98% increase in the number of profitable holders. According to intotheblock data98.9% of Bitcoin holders are currently “in the money,” suggesting a possibility A strong gathering.
Almost all Bitcoin holders benefit
In particular, this percentage represents 9.69 million BTC, which is $2.17 trillion. There will be no selling pressure as investors are already making profits as this huge amount of Bitcoin has purchased at a price below the current market value. It shows bullish sentiment in the Bitcoin market.
The remaining 1.1% (218,530 BTC) is worth $4.1 billion “in money.” That is, they are not lost and are buying near the current price of the asset.
Interestingly, there are no Bitcoin holders from money at the moment. It portrays a strong bull market for flagship cryptocurrency.
At the time of reporting, Bitcoin is exchange It's an increase of 1.69% over the last 24 hours at $109,885.92. The coin had skyrocketed to $110,541.46 in previous trading sessions. Its price is less than 2%, as it exceeds this level. Investors were also active, with trading volumes rising 30.62% to $609.6 billion.
Can BTC overcome road volatility to $120,000?
all metric It indicates a significant potential gathering. A high percentage of “in money” reflects strong market trust. It suggests that Traders are positioned for price stability It could increase if BTC is consolidated between $108,500 and $110,500.
With such a setup, if the trading volume is high in the green zone, you will see that coins will be over $112,000. With market sentiment being regulated, Bitcoin could be on the way to set up a new ATH nearing the $120,000 price level.
However, the path to $120,000 depends on the ability to overcome Bitcoin's volatility. If you can't break the resistance for $112,000, this will trigger a correction and result in a slip of $105,000.
