IntoTheBlock, an analytics platform, has shared updated data on the profitability of Bitcoin holders. According to its data, 95% of Bitcoin addresses are now in the black, about 3% are at breakeven, and only 2% are in the red. This is due to the recent rise in the price of the asset.
High profitability may signal the risk of sell-offs, as investors often take profits at such times. However, there is also growth in accumulation addresses, which may indicate the beginning of a new stage of Bitcoin accumulation.
At the time of writing, Bitcoin is trading around $ 67,700, which is 12% higher than last week.
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