About 90% of Bitcoins on addresses are profitable. Is yours among them?

The latest data from Intotheblock shows that a considerable number of Bitcoin addresses with balances are currently in a state of profit, and the premise of these profits is that the price of Bitcoin rises to $11,000. Similarly, the number of BTC addresses with balances has increased since the beginning of this year, but it is currently impossible to predict whether investors will sell their Bitcoin at a profit.

Bitcoin addresses on the rise

As analyzed by blockchain analytics firm Intotheblock, there are 31.94 million Bitcoin addresses holding coins. Interestingly, a relatively large percentage of these addresses were mentioned this year. According to on-chain data, about 11.9% of the addresses came from this this year alone.

According to Intotheblock, of the total 31.94 million Bitcoin addresses, approximately 89.28% are currently in profit. A similar record was observed in June, where 89% of existing addresses with balances were in profit. Prior to the June report, during the market crash, as of March 12, only 45% of Bitcoin addresses were in profit.

Bitcoin price exceeds $11,000

We noticed that the current percentage of profitable addresses comes from the recent rise in Bitcoin prices. Last week, Bitcoin rose sharply, breaking through the $11,000 pressure level and now priced at $11,344.

While today’s information is positive for the current price of cryptocurrencies, it may also see many people looking to sell their Bitcoin. This is common among crypto whales, who sell their cryptocurrencies whenever they are in a profit position. They will then wait for another potential drop in the cryptocurrency to buy back. (Baijiahao)