The crypto analytics firm Glassnode says most Bitcoin (BTC) holders are now seeing substantial gains in their investments.
In a new report, Glassnode says that “a super-majority of Bitcoin investors” are currently holding unrealized profits following the flagship cryptocurrency’s recovery to $107,000.
Holders now have an average paper gain of 125%.
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“After finding firm support at the Short-Term Holder cost basis of $98,300, a level that often delineates local bull and bear regimes, Bitcoin rebounded to $107,000. This move pushed the majority of investors back into profit, with total unrealized gains reaching a staggering $1.2 trillion.”
The dominant market behavior suggests that investors are unlikely to cash out their gains. The report says the current price level appears less attractive for profit-taking than when Bitcoin
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