59% of Bitcoin holders are profitable as the coin trades above the current Realized Price, which is the cost basis of the average BTC holder, IntoTheblock data on January 19, shows. Parallel on-chain streams show that the realized price of Bitcoin is around $19,700. Comparing this number with the spot BTC price presently at over $20,700, it means 59% of coin holders are sitting on profits, a net positive for the ecosystem. This development is a shot in the arm for HODLers, considering the sharp contraction of prices over the past few months. Then BTC plunged from around $69,000 in November 2021 to slightly over $15,000 in 2022. On-chain data are crunched in real-time, and analysts interpret them to gauge the state of the market. Their interpretation, in turn, could massively influence sentiment and determine how retail traders act based on price action. Related Reading: Bitcoin Price: Investors Predict 12% Decline For BTC In Next Two Weeks As BTC prices react from $21,600 posted earlier this week, on-chain statistics show more than half of BTC holders are in green. Only 38% of market participants are out of t ..
Support the originator by clicking the read the rest link below.
