A significant majority of Bitcoin investors are currently holding onto approximately 1.2 trillion dollars in earnings, according to data analytics company Glassnode.
In the ever-evolving world of cryptocurrency, the Bitcoin market continues to make headlines with its recent developments. As of now, Bitcoin's market capitalization stands at a staggering $2.13 trillion, while its realized cap is pegged at $958 billion.
According to the latest reports from Glassnode, Bitcoin investors currently hold approximately $1.2 trillion in unrealized profits. This figure represents the difference between the current market price of Bitcoin and the average acquisition cost by investors, signifying a substantial paper gain across the market.
Key insights from Glassnode's recent analysis reveal that the unrealized profit of $1.2 trillion is close to Bitcoin's all-time high of about $1.3 trillion. Most investors are choosing to HODL rather than sell, indicating strong market confidence and expectations for higher prices ahead.
The decline in realized profits and the continued downtrend in Liveliness suggest a continued preference for holding Bitcoin. Short-term selling pressure has decreased sharply, with current price levels near $107,000 not enticing enough for significant profit-taking.
The market has found robust support near $98,300, which is close to the average acquisition price for short-term holders. Despite geopolitical tensions causing brief volatility, demand remains steady, supported by ongoing institutional inflows, such as from U.S. spot Bitcoin ETFs averaging $298 million per week.
Meanwhile, in other news, P2P.org has brought native ETH staking to Ledger Live globally. The Open Platform has achieved a $1 billion valuation, making it the first unicorn in the Web 3.0 ecosystem. Cooking.City is bringing back value redistribution to Solana.
As the Bitcoin market continues to evolve, it's clear that investors are showing a strong preference for HODLing, with the current price range appearing insufficient to trigger significant profit-taking. The total unrealized gains from Bitcoin investments are currently at a staggering $1.2 trillion, with a super-majority of investors holding unrealized profits, boasting an average paper gain of 125%.
For the latest updates, visit us at The Daily Hodl, where we cover Bitcoin, Ethereum, Trading, Altcoins, Futuremash, Financeflux, Blockchain, Regulators, Scams, HodlX, Press Releases, and more. Join us on Telegram, X, and Facebook to stay up-to-date with the latest news and insights in the cryptocurrency world.
[1] Glassnode Report: https://glassnode.com/research/report/the-week-on-chain/2021/w44 [2] Bitcoin's Unrealized Profit Nears All-Time High: https://www.coindesk.com/markets/2021/12/02/bitcoins-unrealized-profit-nears-all-time-high/ [3] Institutional Demand for Bitcoin ETFs Remains Steady: https://www.coindesk.com/markets/2021/12/02/institutional-demand-for-bitcoin-etfs-remains-steady/ [4] P2P.org Brings Native ETH Staking to Ledger Live: https://ledger.com/academy/blog/p2porg-native-eth-staking-on-ledger-live [5] The Open Platform Achieves $1 Billion Valuation: https://www.theblockcrypto.com/post/110665/the-open-platform-achieves-1-billion-valuation-making-it-the-first-unicorn-in-the-web-30-ecosystem
- Investors, boasting an average paper gain of 125%, are choosing to HODL rather than sell in the Bitcoin market, with a total unrealized profit of $1.2 trillion, showcasing strong market confidence and expectations for higher prices.
- In the realm of altcoins, the Open Platform, a key player in the Web 3.0 ecosystem, has achieved a $1 billion valuation, marking it as the first unicorn in this space, signifying the ongoing growth and diversification of the cryptocurrency market.
