Bitcoin Addresses in Loss as BTC Hits ATH 📉🚀

Bitcoin Addresses Hit Milestone with Zero at a Loss

In the last 24 hours, Bitcoin (BTC) has seen a 5% surge, breaking through the $72,000 mark on its way to the all-time high. This recent surge has resulted in a significant decrease in the number of BTC addresses holding the digital asset at a loss.

Bitcoin rallies roughly 5%, surpassing $72,000
Number of addresses holding BTC at a loss significantly reduced

IntoTheBlock Data Reveals Zero Loss Addresses

Current data from IntoTheBlock shows that there are currently no BTC addresses in a loss position while the cryptocurrency is trading around $72,600.

Zero BTC addresses in a loss position
Bitcoin trading around $72,600

Twitter Report Shows Elimination of Losses

Just a few hours before the current time, a tweet from IntoTheBlock revealed that over 30,000 Bitcoin addresses were in a loss position, holding a combined total of 10,540 BTC. However, the recent surge in BTC’s price has wiped out these losses, bringing the addresses back to a neutral standing.

Over 30,000 addresses previously at a loss
Recent surge in BTC price eliminated losses

Positive Indicator for Bitcoin Holders

With zero addresses in a loss position, nearly 99.6% of Bitcoin addresses (comprising 51.82 million wallets) are now in a profitable position. This leaves a small fraction of addresses (0.35%) that bought BTC around $71,818 at a neutral position.

99.6% of Bitcoin addresses in a profitable position
Small percentage of addresses at a neutral position

Implications for Bitcoin’s Price Outlook

The recent surge in Bitcoin’s price to over $72,000 has injected more than $70 billion into the cryptocurrency market. Despite a dip from $68,000 to $64,500 earlier last week that led to liquidations, this recent rally has brought back optimism for Bitcoin holders.

Bitcoin price surge adds over $70 billion to crypto market
Bulls regain control after a brief downturn

Consolidation Phase and Analyst Forecasts

Analysts suggest that Bitcoin is currently in a consolidation phase, trading between a lower range of $65,000 and an upper range of $71,000. This phase allows for accumulation of the digital asset at favorable prices and risk management amidst uncertainty in the market.

Bitcoin in a consolidation phase between $65,000 and $71,000
This phase allows for accumulation of BTC at advantageous prices

Predictions and Support Levels

Looking ahead, analysts believe that Bitcoin is set for further gains, with speculation of breaking its all-time high of $73,700 before the upcoming halving event in less than two weeks. Support levels at $60,000 and $57,000, backed by short-term whales and large wallets, are expected to prevent major corrections and maintain upward momentum.

Speculations of Bitcoin surpassing all-time high before halving event
Support levels at $60,000 and $57,000 to prevent significant corrections

Hot Take: Bitcoin Continues to Soar

Bitcoin’s recent surge to over $72,000 has brought joy to many holders as the cryptocurrency hits a milestone with zero addresses in a loss position. Analysts predict further gains for Bitcoin, with support levels in place to maintain the upward momentum. The cryptocurrency market is abuzz with excitement as Bitcoin’s price outlook remains positive in the coming days.