Glassnode: The Shine in the Bitcoin Market Returned After Months

When the Bitcoin (BTC) price rose again, almost all long-term investors made a profit.

In the report of Blockchain analysis firm Glassnode, the profit/loss situation of long and short-term investors was examined.

Almost none of them are in harm's way

Bitcoin price was in the range of $68,000-69,000 on June 4. According to Glassnode data, only 0.03% of Bitcoins held for at least 155 days were in a "harmful" state.

Since this range goes back to March, it is assumed that investors who are still at a loss consist of people who bought at the peak during the bull market in November 2021 and have not yet sold Bitcoin. There are a total of 4,900 Bitcoins in these wallets.

Long-term investors hold 0.3% of the total amount of Bitcoin in loss. Long-term investors, however, hold more than 85% of the total supply in the money.

If Bitcoin trades above $70,000 for a few more weeks, long-term investors will all be in the dark.

Short-term investors bear the burden

The majority of the addresses in loss are short-term investors. These investors largely bought before bitcoin broke its price record in March.

Glassnode said short-term investors “shouldered most of the loss in the market.” It was stated that this “is generally observed in corrections in bull markets after a new price record is broken.”

The rise in Bitcoin price again increased the excitement in the market. “The price is returning, after consolidating for several months, the first glimmers of speculation in the market,” Glassnode said.

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