Data Shows Average Bitcoin Investor Sitting on Big Profits Despite Dip

• Glassnode says the average Bitcoin investor holds profits despite a recent price dip.
• Average BTC bull holds an unrealized gain of $41K, while short-term investors hold an unrealized loss of $5,300.
• Key pricing levels that could impact investor behavior include a breach of $58K and a decisive break above $64,000.

Despite the recent sell-off that pushed Bitcoin (BTC) prices below $60,000, a new analysis from Glassnode suggests the market remains remarkably robust.

According to the on-chain analytics platform, aggregate investor profitability is still strong, with the average coin holding a 2x profit multiple — a level often seen during the enthusiastic and euphoric phases of bull markets.

The #Bitcoin market is in an interesting spot, with the average coin still up 2x, whilst most Short-Term Holders are underwater.

A multitude of volatility measures are also heavily compressed, suggesting a larger move is on the horizon.

Discover more in the latest Week… pic.twitter.com/8J0MAKRraf

— glassnode (@glassnode) July 3, 2024

Glassnode’s analysis reveals that the average coin in profit holds an unrealized gain of $41,300, with a cost basis of approximately $…

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