đđBitcoin Price Crashes: Only 75% Are Making Profit While Market Loses Gains đđ
Bitcoin investors are at risk of a significant downside as the number of BTC addresses in profit has visibly decreased. The leading cryptocurrency has fallen significantly from its previous highs to below $50,000.
According to IntoTheBlock data, the percentage of BTC addresses in profit has recently dropped to 75%, down from 93% in July. This significant drop in profitability points to a clear shift in market sentiment. The percentage of BTC addresses in profit has fallen to levels seen in January, when Bitcoinâs value fell to $39,000. This period coincided with the launch of US spot Bitcoin ETFs.
Several factors have contributed to the decline in Bitcoinâs price, including outflows from exchange-traded funds and uncertainty about US fiscal policy. In addition, the economic weakness in the US is creating a downtrend that is forcing some large investors to sell their assets.
Bitcoinâs price movements are currently the subject of intense speculation. Some analysts remain optimistic, claiming that the bull market is not over yet and that the percentage of addresses in profit may increase again. Bitcoin recently fell to $49,513 but has made a small recovery to $53,000. However, analysts warn that the price could fall to $40,000, further reducing investorsâ profit margins.
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