Half of Bitcoin is kept to a net profit not realized
Half of Bitcoin is kept to a net profit not realized
In the 6m and 1Y view, the Bitcoin price diagram "crypto winter" blows. Last November, $ 68,000 was requested. Since mid-June of this year, however, it has moved in a range of around $ 20,000 mark. But today a little more than half of the owners have an unrealized net profit at hand.
The Bitcoin Prize rose abruptly last week from Wednesday. The Pow king recorded a double-digit percentage profit on Friday at the climax of the climb and has continued to increase since then. After the $ 20,000 mark recovered this week, the Bitcoin price campaign was wiped out Bitcoin shorts worth $ 160 million
But even before this rally, almost 50 % of BTC owners were in the positive or not realized profit area. This emerges from an on-chain metric of the Net Unrealized Profit Or Loss (Nupl).
Bitcoin, which is kept with a profit not realized, corresponds to that that is kept with loss
"not realized" simply means that this metric applies to those who have not yet sold. It is a measure of whether they would win or lose if they were sold at the current average market price.
on Wednesday last week, shortly before the sudden Bitcoin price increase of the week, 47 % or almost half of the Bitcoin owners had a profit in their hands after some estimates. In the meantime, this number is even higher.
Another estimate from the beginning of this week, based on cryptoquant data analyzes, defines this percentage even more closely, the Nupl is at -0.07
nupl describes whether Bitcoin owner have a profit or loss in hand. If the number is positive, more investors do not hold profits, and if it is negative, more investors do not have realized losses.
With this number that is so close at 0, the percentage of the bitcoins that are kept with profit is almost the same that is kept with loss if the owner would sell on the day on which the metric was taken.
7-day BTC addresses that are kept when you are lost
The glass node data also show the number of loss-making 7-day bitcoin addresses, which are strongly on parity with the profitable climb coin over the end of August and this month.
In the meantime, long -term owners stick to their BTC and remove liquid stockings to store them. A report by Saxo Markets at the beginning of the month noticed this:
"In August, the Bitcoin exchanges experienced a net deduction. Around 9 % of the total offer now remain on the stock exchanges compared to 12 % at the beginning of the year. A lower foreign exchange balance is usually associated with a decline in potential sales pressure."
Even in March, when the Bitcoin price sharply capitulated compared to the prices from November to January and only 40% of owners were under water.
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