Bitcoin Surges But Most Addresses Stay “At The Money”!
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The current Bitcoin price action marked a robust 10% surge over the past week to a price of $63,982. However, the distribution of addresses profitability offers slightly different underlying dynamics. With almost 49.83k addresses,14.03% of total active addresses, are ‘In the Money’, enjoying profits due to the recent price hike. In contrast, 20.29k addresses (5.71%) find themselves ‘Out of the Money’, holding Bitcoin at a loss. The majority, however, comprising 285.03k addresses or 80.26%, are ‘At the Money’, with their purchase prices aligning closely with the current market rate. Hence, many are yet to make money in the market.
