Bitcoin-short-term owners continue to make profits: On-chain data from Glassnode show that Bitcoin-short-term investors are currently making 55.6 times more than losses.

Von Krypto News Österreich

Bitcoin-short-term owner continues to make profits

According to the data of the on-chain analysis company Glassnode, the short-term owners have recently made profit take a large extent. The relevant indicator here is the “realized profit/loss ratio”, which measures the relationship between the profit and losses that Bitcoin investors are currently in.

This indicator works by going through the on-chain history of every coin sold to see at what price it was last moved. If this previous course was lower than the current spot price, then this Bitcoin is now sold with a profit.

In the opposite case, the sale of the coins means a loss. The metric adds the profits and losses that investors do in the entire network and calculates the ratio.

This indicator applies to the entire market, but can only be defined for certain segments of the market. As part of the current discussion, the group of “short -term owners” (STH) is of interest. The STHS includes all investors who have kept their coins for less than 155 days.

As can be seen in the above graphic, the 7-day emotion of Bitcoin StH Realized Profit/Loss Ratio was more than 1. This means that the profit realized by this group was larger than loss. Historically, the indicator was usually during relaxation in this area, since the STHs naturally make great profits in such periods and since they are at short notice, they tend to sell more often, which leads to an increase in profit.

The situation is similar in Baisse phases, in which the course is generally in a constant downward trend: the indicator remains below the 1 mark, since most sales are made with losses.

Interestingly, the 1 brand, which distinguishes between loss and profit treatment, has some special interactions with the Bitcoin course. In Hausse phases, this level supported the asset, while it worked as a resistance in Baisse markets.

In the graphic, Glassnode marked the last two repetitions of this level. Both repetitions have taken place in the past few months and both of them occurred at points where it seemed that the Bitcoin rally came to an end. However, these renewed tests proved to be successful and there was a recovery when the brand was reached.