BlockNews
  • CRYPTO
  • FINANCE
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • CRYPTO
  • FINANCE
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews
Home BUSINESS

85% of People Holding Bitcoin are in Profit

by BlockNews.com Team
December 20, 2023
in BUSINESS, CRYPTO, FEATURED
A A
85% of People Holding Bitcoin are in Profit

#image_title

1
SHARES
Share on XShare on RedditTelegram
  • Bitcoin’s price has rebounded, gaining 1.22% over the last 24 hours to push above $42,900. This volatility has caused price fluctuations between $41,800 and $43,000.
  • On-chain data shows a surge in profitable addresses, with 84.84% now in profit. Over 43 million addresses are currently profitable compared to under 6 million at a loss.
  • Approval of a Bitcoin ETF could be a major catalyst, as Wall Street is keen on the product. This potential impact is contributing to Bitcoin’s recent price jump.

Bitcoin (BTC) has seen a dramatic rebound in price despite ongoing volatility. The world’s largest cryptocurrency by market capitalization has gained 1.22% over the last 24 hours, pushing its price to $42,926.38.

🚨 NEWS: 85% of #Bitcoin wallets are currently in profit

— BlockNews.com (@blocknewsdotcom) December 20, 2023

Volatility Swings Bitcoin’s Price

The volatility has caused Bitcoin’s price to swing between a low of $41,826.34 and a high of $42,999.72. Bitcoin bulls are attempting to breach the $43,000 resistance level.

On-Chain Data Shows Surge in Profitable Addresses

Amid the price fluctuations, an interesting on-chain event has occurred. Bitcoin’s profitability hit 84.84%, sending more addresses into profit. According to data from IntoTheBlock, 43.74 million addresses are currently in profit, compared to just 5.98 million addresses at a loss and 1.83 million at break-even.

Bitcoin Profitability Shifts Over the Year

So far this year, there has been a major shift in Bitcoin’s profitability, which dropped as low as 60% at one point. However, improved market sentiment and on-chain activity have highlighted why Bitcoin remains the largest cryptocurrency.

Bitcoin ETF Could Be a Game Changer

While Bitcoin’s next halving event is set for April 2024, another potential catalyst is approval of a Bitcoin ETF by the SEC.

Many industry experts believe a Bitcoin spot ETF could fully propel the market into a bull cycle. Wall Street is already keen on the product if approved, which could trigger a mega price run.

Although uncertain, players are starting to price in the ETF’s potential impact, contributing to the recent jump in Bitcoin’s price.

Tags: BitcoinBitcoin ETFBTCcryptoIntoTheBlock
TweetShareShareShare

DON'T MISS THESE! HOT OFF THE PRESS

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market
CRYPTO

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up
CRYPTO

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?
CRYPTO

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact
Binance BNB

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day
CRYPTO

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up
CRYPTO

Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up

June 21, 2025
Load More

Related News

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • CRYPTO
  • Memecoins
  • Technology
  • Politics
  • FINANCE
  • NFT
  • DEFI
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.