Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surges-above-69000-as-majority-of-holders-profit/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surges Above $69,000 as Majority of Holders Profit</a><br></p>
<p style="text-align: justify">Bitcoin (BTC) has surpassed $69,000, resulting in profits for 94% of its holders. However, this increase raises concerns about potential profit-taking in the short term.</p>
<h2 style="text-align: justify" id="strong-situation-of-bitcoin-holders-strong"><strong>Situation of Bitcoin Holders</strong></h2>
<p style="text-align: justify">Analysis by Axel Adler Jr., based on CryptoQuant data, indicates that 94% of Bitcoin’s supply is currently profitable. Most of the existing coins were purchased at approximately $55,000, heightening the likelihood that some holders may pursue profit realization in the near term.</p>
<h2 style="text-align: justify" id="strong-market-buying-selling-behavior-strong"><strong>Market Buying/Selling Behavior</strong></h2>
<p style="text-align: justify">Investors who bought Bitcoin during price dips are now perceived as being “in the money.” This situation has led to the resurgence of the buy-the-dip strategy among investors, potentially supporting a positive sentiment in the market.</p>
<p style="text-align: justify">Analyst Michael van de Poppe also highlights this issue: “Bitcoin fell to $65,000 and quickly rebounded. I believe this small correction has ended. With macroeconomic developments and upcoming elections, we expect the <a href="https://en.coin-turk.com/ftx-crypto-exchange-proposes-controversial-compensation-values/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/flash-statements-from-the-hong-kong-monetary-authority-on-the-regulation-of-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> market to grow again.”</p>
<h2 style="text-align: justify" id="strong-historical-trends-and-price-corrections-strong"><strong>Historical Trends and Price Corrections</strong></h2>
<p style="text-align: justify">Historically, significant price drops have occurred when a large portion of Bitcoin holders are in profit. Similar declines were observed in September 2023 and March 2024. For instance, after reaching $73,835 in March 2024, Bitcoin saw a 23% drop to $56,500 in May.</p>
<p style="text-align: justify">Experts warn that such historical trends could lead to new fluctuations in Bitcoin’s price. Currently, Bitcoin trades around $67,200, having experienced significant volatility in the past week.</p>
<h2 style="text-align: justify" id="strong-investor-guidance-strong"><strong>Investor Guidance</strong></h2>
<p style="text-align: justify">With 94% of Bitcoin’s supply in profit, short-term price fluctuations may occur. It is crucial for investors to closely monitor market movements and adjust their decisions accordingly. Historical data and current market dynamics provide insights for future price behaviors.</p>
<p style="text-align: justify">Bitcoin has climbed above $69,000 once again, with most holders profiting. This scenario, based on historical data, may indicate potential corrections ahead. Therefore, market balances should not be overlooked and must be monitored carefully.</p>
<p>The post <a href="https://en.coin-turk.com/bitcoin-surges-above-69000-as-majority-of-holders-profit/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surges Above $69,000 as Majority of Holders Profit</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin Surges Above $69,000 as Majority of Holders Profit

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