Glassnode: Over 90% of Bitcoin Supply Remains Profitable Amid Market Volatility
2024-06-01 03:48:24
Glassnode data shows that despite recent bitcoin price volatility, a significant proportion of bitcoin holders are still making a profit - more than 90% of the bitcoin supply was in a profitable position as of May. This trend suggests that holders are still holding positions amid market volatility, reflecting bitcoin's resilient support levels. Additionally, bitcoin's price movement in 2024 is similar to the volatile periods of previous years, especially 2017. Glassnode data also suggests that the bitcoin market is experiencing support levels, which boosts holders' confidence, even though the asset is experiencing a typical cyclical correction.
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