Bitcoin plummeted to $59,000 after facing selling pressure from major investors, as the market closed the April candle.Bitcoin experienced significant volatility overnight and this morning, with prices dropping below $60,000 USD, reaching lows unseen since early March. According to IntoTheBlock, Bitcoin is currently in a period of moderate price consolidation. Despite the potential for accelerated price drops due to whale exits, most BTC holders are still profitable.
IntoTheBlock notes that 86% of all Bitcoin holders are currently in profit. Although this figure is lower, it may indicate that the market is in a consolidation phase following the surge in the first quarter of 2024. Bitcoin surpassed its 2021 high in mid-March, reaching a new all-time high of $73,800 USD. At that price level, all Bitcoin buyers, even those who bought at the 2021 peak, are in profit.
