Super-Majority of Bitcoin Holders Are Now Back in Profit – Glassnode
Bitcoin (BTC) has surpassed the $40,000 mark and is up over 140% year-to-date, outperforming gold and dominating the digital asset industry, according to Glassnode. The majority of Bitcoin holders are now in profit after the recent rally. On-chain metrics indicate that the market is transitioning from a recovery phase to an enthusiastic bull market.
‘There is Room for BTC to Rally Freely,’ Says Criptonite Exec
Mathieu Ziaei, Portfolio Manager at Criptonite Asset Management, believes that the settlement between Binance and the US Department of Justice has created hype around the potential approval of a spot Bitcoin ETF in January 2024. Ziaei predicts that Bitcoin could reach a local top at around $48,000 before experiencing a sharp move to the downside. He also mentions rumors of financial easing and states that it would be difficult to justify having a short position on Bitcoin given all the positive news.
Amazon Prime Gaming Members Can Now Access Gods Unchained Content
Immutable Games has announced that Amazon Prime Gaming members can now access in-game content for Gods Unchained. By connecting their in-game accounts, Prime Gaming members will gain monthly access to exclusive items. This collaboration coincides with the launch of Season 2 of Gods Unchained, which introduces changes to gameplay and new cards.
Bitrefill Partners with Suku to Launch Cashback NFTs Minted by Tweeting
Bitrefill has partnered with Suku to launch an NFT campaign that allows users to mint “Secret Code” cashback NFTs by tweeting. Users who tweet “bitrefill and sukuthis” will receive a unique Bitrefill NFT containing a one-time-use code that redeems cashback on any gift card in the Bitrefill marketplace. The campaign also includes a gamified component where users can earn varying percentages of cashback NFTs. The NFTs are stored in a Suku wallet, providing an easy entry point into Web3.
Hot Take: Super-Majority of Bitcoin Holders Are Now Back in Profit
Bitcoin has experienced significant growth and has now surpassed the $40,000 mark. This rally has led to the majority of Bitcoin holders being back in profit. On-chain metrics suggest that the market is transitioning into an enthusiastic bull market. With the potential approval of a spot Bitcoin ETF in January 2024, there is room for Bitcoin to rally freely. However, there is also the possibility of a sharp move to the downside after the “buy the rumor, sell the fact” phenomenon occurs. Overall, Bitcoin continues to dominate the digital asset industry and outperform other assets like gold.
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