The crypto market is witnessing a new wave of excitement as the chief crypto token Bitcoin has recently spiked in its price. As per IntoTheBlock, a prominent crypto market intelligence platform, Bitcoin has touched $66,000 resulting in profits for 91% of the $BTC holders, raising speculation about a potentially looming new ATH. The market intelligence firm took to social media to provide the details of Bitcoin’s current market status.
91% of Bitcoin holders are in profit as Bitcoin touches $66k. When will $BTC see a new all-time high? pic.twitter.com/fpxZXkeySl
— IntoTheBlock (@intotheblock) October 14, 2024
Bitcoin’s Continuous Price Rise Places Ninety-One Percent $BTC Holders in Gains
IntoTheBlock noted that the price of the top cryptocurrency is continuously rising, leading to profits for ninety-one percent of Bitcoin holders. Several of the respective investors have reportedly kept their positions during times of enormous volatility. As a result of that, they are getting the fruit of their patience.
The present market sentiment expressed overwhelming positivity. It potentially occurs because of the increasing interest among institutional investors, increasing adoption of crypto assets, and macroeconomic factors.
Market Onlookers Speculate about a Likely Approaching All-Time High
At present, Bitcoin is changing hands at $65,635.71. This figure denotes a price rise of 4.60% over the recent twenty-four hours. In addition to this, the prominent crypto token has seen a 2.90% spike in terms of price throughout the recent week. Moreover, a significant 9.36% spike has taken place in the price of Bitcoin over the last month.
Keeping in view the current market statistics, the market onlookers are speculating about the potential time for an exclusive all-time high price level for Bitcoin. Nonetheless, no one surely tell the precise timing of an ATH. Even then, if Bitcoin maintains its ongoing growth, it could shortly go beyond its former price peak.
