Toward the end of last week, Bitcoin’s price surpassed $31.1k. After noting a slow weekend, its price continued to hover around the psychological $30,000 mark. At press time, nonetheless, bears were seen in control, as Bitcoin was trading in red on the days after noting a 1.4% depreciation.
That being said, the market continued to be characterized by greed. During the early hours of Monday, April 17, Bitcoin’s fear and greed index depicted a reading of 69, bringing to light the same. On one hand, greed calls for a market correction. On the other, several analysts believe that Bitcoin’s latest $30k feat is just the beginning of what is expected to blossom into a full-fledged bull run over the mid-term.
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Bitcoin profitable days
Irrespective of the near-term perspective, it is interesting to note that out of the 4,620 days of Bitcoin’s existence, its holders have been in a profitable position for around 4,122 days. According to data from Blockchain.com, investors have relished 89.22% of profitable days so far relative to the current price.
As depicted below, only 501 or 10.84% of the total days have been unprofitable for long-term holders. There has been only one long trail of the unprofitable period, illustrated in red on the chart below.
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Parallelly, it is interesting to note that the percentage of Bitcoin addresses in profit has also been on the incline. Data from Glassnode revealed that the same just claimed a 1-year high of 75.57%. Alongside, the accumulation trend also seems to be going on in full spree. The number of addresses possessing more than 0.1 coins clinched a new all-time high of 4,308,379 today, bringing to light the untethered sentiment of investors.
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