Bitcoin

Almost 95% of the Bitcoin offering becomes profitable at $ 11,400

The vast majority of the Bitcoin offering (BTC) benefited after the price rose to $ 11,400to reveal new data.

According to the monitoring of the chain monitoring resource Glass knotfrom July 27th Almost 95% of the Bitcoin offer is worth more than the last move.

Bitcoin winning days reached 97.7%

Monday’s number is almost in line with the June 2019 record, which peaked at Bitcoin’s price hike when it hit $ 13,800.

Almost 95% of the Bitcoin offering becomes profitable at $ 11,400
Almost 95% of the Bitcoin offering becomes profitable at $ 11,400

Bitcoin percent offer in the profit 3-year chart. Source: Glassnode

Graph of the percentage of Bitcoin supply in the 3-year profit. Source: Glassnode

But this time Several factors differentiate the market from its appearance a year ago. In particular, the macroeconomic mood has reversed: The dollar has weakened and investors have sought refuge in gold and silver.

In terms of profitability, Bitcoin has remained profitable for 97.7% of its daily usageaccording to LookIntoBitcoin data.

Bitcoin Profitable Days Lifetime Chart. Source: LookIntoBitcoin

Bitcoin lifespan day chart. Source: LookIntoBitcoin

BTC bulls “have not yet given up”

Despite Bitcoin’s profitability and returns, which exploded in the second quarter, Stock market data still doesn’t show massive sales at a certain price. Revenue rose on Monday, but the pressure is still manageable.

Filbfilb, an analyst at Cointelegraph Markets, said $ 10,400 is a solid area of ​​buyer support.

“There are great deals for around $ 10,400. I have tracking stops installed, but I need to babysit if it looks like a wick,” he told the dealers.

Filbfilb added that he took a long position since he is not convinced that the bulls are happy with $ 11,000.

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