Analysis Shows $47 Billion More Bitcoin Supply Now Profitable Near $80,000 Level
(46 days ago) · 1 source · Summarized by CryptoBipto
On-chain analysis indicates that approximately $47 billion more in Bitcoin supply has moved into profit compared to the last time Bitcoin traded near $80,000. This means more holders are sitting on gains at this price level, which could affect selling pressure if Bitcoin approaches that threshold again.
WHY IT MATTERS
When people buy Bitcoin, the price they paid is sometimes called their 'cost basis.' Think of it like buying a house — if you bought it for $200,000 and it is now worth $300,000, you are sitting on a $100,000 profit (on paper). On-chain analysts can estimate how many Bitcoin holders are in a similar situation by looking at blockchain transaction data. This analysis found that $47 billion more in Bitcoin is now held by people who are 'in the green' near the $80,000 price compared to last time. This matters because when many people are sitting on profits, some may decide to sell, which could create more supply on the market. However, this is an observation about current conditions, not a prediction of what will happen next.
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- cryptoslate.com
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