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The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/record-breaking-profits-bitcoin-holders-cash-in-2-02-billion-daily/" rel="noopener noreferrer nofollow">Record-Breaking Profits: Bitcoin Holders Cash In $2.02 Billion Daily</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.Long-term <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin</a> holders have realized $2.02 billion in daily profits, an unprecedented figure that highlights the intensity of profit-taking activity as the price of Bitcoin neared the $100,000 mark earlier this month.According to a Glassnode <a href="https://insights.glassnode.com/the-week-onchain-week-48-2024/" rel="noopener noreferrer nofollow">report</a>, the figures surpasses a previous record seen back in March of this year and a “robust demand side is required to fully absorb this supply overhand, which may require a period of re-accumulation to fully digest.”Since September, long-term holders have offloaded more than 507,000 BTC, with data suggesting that most long-term holder coins transcting are “likely to have been acquired relatively recently,” meaning they’re “more likely to be 6 months old than 5 years old on average.”The realized profit data reveals a diversity of strategies among Bitcoin holders. Investors with modest percentage gains accounted for $10.1 billion in profits within the 0%-20% range, while high-return holders—those earning over 300%—generated $10.7 billion.These trends suggest participants with lower cost bases sell smaller quantities of Bitcoin but achieve comparable profit volumes in dollar terms. The report also highlights an aggressive selling phase, with the current rate of LTH spending exceeding that of the March 2024 all-time high.As CryptoGlobe reported, Bitcoin’s bull run this year has seen on-chain activity surge along with the flagship cryptocurrency’s price, to the point the number of daily active addresses is now nearing 1 million after its first prolonged increase in three years.According to data from on-chain analytics firm IntoTheBlock, Bitcoin’s long-term activity trend has “decisively shifted” as on-chain activity is seeing “significant growth” amid <a href="https://cryptosnewss.com/bitcoins-path-to-100k-halted-by-lack-of-retail-trader-involvement/" rel="noopener noreferrer nofollow">BTC’s price</a> rise.It’s worth adding that a daily active address doesn’t necessarily mean a daily active user, as anyone can create as many Bitcoin addresses as they would like to, and experts often recommend the use of various addresses for privacy and security purposes.The figure likely doesn’t represent one million active users, but it’s worth noting that many use BTC within cryptocurrency exchanges, whose addresses often bundle the funds of various users and end up representing the assets of numerous users rather than those of a single entity.On top of that, many invest in cryptocurrency and store their funds in <a href="https://www.ledger.com/academy/topics/security/what-is-a-cold-wallet" rel="noopener noreferrer nofollow">cold wallet solutions</a> that aren’t touched for years as long-term holders prefer these solutions for the added benefits to security.The post <a href="https://cryptosnewss.com/record-breaking-profits-bitcoin-holders-cash-in-2-02-billion-daily/" rel="noopener noreferrer nofollow">Record-Breaking Profits: Bitcoin Holders Cash In $2.02 Billion Daily</a> appeared first on <a href="https://cryptosnewss.com" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Record-Breaking Profits: Bitcoin Holders Cash In $2.02 Billion Daily

Cryptos Newss

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