{"id":523520,"date":"2023-03-17T11:30:58","date_gmt":"2023-03-17T11:30:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=523520"},"modified":"2024-06-11T08:28:28","modified_gmt":"2024-06-11T08:28:28","slug":"74-of-bitcoin-holders-are-in-the-money-as-price-explodes-above-26000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/74-of-bitcoin-holders-are-in-the-money-as-price-explodes-above-26000\/","title":{"rendered":"74% Of Bitcoin Holders Are In The Money As Price Explodes Above $26,000"},"content":{"rendered":"

IntoTheBlock\u00a0<\/span>data<\/span><\/a> on March 17 shows that 74% of Bitcoin holders are in the money at spot prices. 23% are out of the money, meaning they are holding to losing positions. When writing, only 4% are at break even, at parity with when they bought their bags.<\/span><\/p>\n

74% Of Bitcoin Holders In Profits<\/span><\/h2>\n
Bitcoin is a volatile asset, and prices have been moving strongly in the last few weeks, dropping to as low as $15,300 in Q4 2022.\u00a0<\/span><\/p>\n
However, the coin has maintained a sharp uptrend in the past week, rising from last week’s depths and soaring above $26,000, printing a new Q1 2023 high.\u00a0<\/span><\/p>\n
$\"Bitcoin$ <\/a>
Bitcoin Price On March 17| Source: BTCUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n
When writing, trackers show that BTC is trading above $26,200, adding six percent in the last 24 hours and roughly 32% in the previous week. <\/span>At current prices, most BTC holders are profitable.<\/span><\/p>\n
$\"Bitcoin$
Bitcoin Holders Making Money: IntoTheBlock<\/a><\/figcaption><\/figure>\n
Related Reading: Bitcoin Price Restarts Rally As The Bulls Target New Monthly High<\/a><\/div>\n
A notable development amid this expansion is the high participation levels. The current leg up on the Bitcoin daily chart has been with rising trading volumes.\u00a0<\/span><\/p>\n
In trading and technical analysis, price expansions or contractions with a spike in trading volumes indicate participation or interest.\u00a0<\/span><\/p>\n
As BTC rallied from around $19,500 last week, there has been a notable expansion in volumes, an indicator that this rally is supported.<\/span><\/p>\n
Banking Crisis And Binance Folding The Industry Recovery Fund<\/span><\/h2>\n
Behind the reversion to crypto assets, an asset class that Jerome Powell, the Federal Reserve chairman, said is risky, could be due to several reasons.\u00a0<\/span><\/p>\n
The placement of Silicon Valley Bank into receivership and under the custody of the FDIC triggered a bank run. This development was at the back of the collapse of Silvergate. After Silicon Valley Bank fell, Signature Bank was closed.\u00a0<\/span><\/p>\n
<\/iframe><\/div>\n
The United States government, through Janet Yellen and the Treasury Department, fearing contagion, said it would intervene and ensure depositors won’t be affected. The Fed also created a fund and a credit line for distressed banks.\u00a0<\/span><\/p>\n
Related Reading: The US Fed adds $297 Billion In A Week, Fanning Bitcoin Rally<\/a><\/div>\n
This intervention has seen the Fed’s asset portfolio increase. It is despite a decline in the number of Treasuries and Mortgage-Backed Securities (MBS) being purchased.\u00a0<\/span><\/p>\n
\n
QE is Back! <\/p>\n
About $300 billion in assets added to Fed balance sheet in the last week pic.twitter.com\/a46TLAkFwr<\/a><\/p>\n
— Genevieve Roch-Decter, CFA (@GRDecter) March 16, 2023<\/a><\/p><\/blockquote>\n