Navigating the Bitcoin Market: 85% of Bitcoin Holders Profiting

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• According to the latest information obtained by COINOTAG from IntoTheBlock, 84% of Bitcoin holders are in profit at the current price, 11% are at a loss, and 5% are at breakeven.
• As shown in the chart created by PlanB, this situation historically indicates higher gains.
• As of November 23, Bitcoin was trading at $37,500, representing a 9.93% gain over the past month, according to the latest charts.

85% of Bitcoin holders are profitable; Evaluating the future of Bitcoin price with on-chain data from IntoTheBlock

Most Bitcoin Holders are Now in Profit

As the sentiment in the overall cryptocurrency sector improved and Bitcoin (BTC) returned to the psychologically significant price level of $37,500, almost 85% of its holders are currently in a profitable position, and indicators suggest that this number could increase further with the price.

Specifically, according to the latest information obtained by COINOTAG from the IntoTheBlock blockchain analytics platform on November 23, 84% of Bitcoin holders are in profit at the current price, 11% are at a loss, and 5% are at breakeven.

At the same time, this percentage of profitable Bitcoin holders is also shown in the chart created by PlanB, a pseudonymous cryptocurrency analyst and investor known as the creator of the Bitcoin stock-to-flow (S2F) model. This type of situation has historically indicated higher gains, as shown in the chart.

In fact, according to the analysis shared by this expert on November 22, 87% of Bitcoin holders were in profit at the time of the publication; represented by yellow dots in the chart, coming before the orange dots around 90%, and reaching 100% with red dots. This indicates the potential for further increases in the Bitcoin price.

Current Status of Bitcoin Price

Meanwhile, at the time of writing, Bitcoin was trading at $37,500, representing a 2.30% increase in the last 24 hours, a 0.39% gain in the previous seven days, and a 9.93% gain over the past month, according to the latest charts as of November 23.

Considering all the data, these figures are particularly positive when combined with factors such as the potential positive expectations of a spot exchange-traded fund (ETF) approval and the upcoming halving event, especially for leading decentralized finance (DeFi) assets.