95% of Bitcoin Holders in Profit as Prices Soar, Sparking Market Optimism

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On-chain data indicates that around 95% of all Bitcoin holders are currently in profit following the latest bullish action that Bitcoin’s price has experienced. According to a new post on X by the market intelligence platform IntoTheBlock, this update on Bitcoin holders’ profitability has been determined through extensive analysis of on-chain data.

IntoTheBlock painstakingly examined the transaction history of each address on the Bitcoin network to calculate the average price at which these addresses acquired their coins. Wallets with a cost basis below the current market price are considered to have a net unrealized profit. Conversely, addresses whose acquisition cost exceeds the current price are seen as being in a loss. The analytics firm has categorized these investors as “in the money” for those in profit and “out of the money” for those in loss. Wallets where the acquisition cost matches the current Bitcoin price are labeled as “at the money,” indicating a break-even point.


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At present, around 95% of Bitcoin addresses are “in the money,” meaning they hold a net profit. Approximately 3% of the addresses are breaking even, while the remaining 2% are in a loss position. Therefore, the market distribution heavily favors profit holders due to Bitcoin’s recent price rally.

IntoTheBlock notes that the current situation where 95% of Bitcoin addresses are in profit is boosting market sentiment significantly. Historically, such high levels of profitability have signaled strong bullish momentum but also the possibility of market overextension. Generally, investors with net profits are more likely to sell their assets to cash in on gains, making a high profitability ratio a potential precursor to a mass selloff for profit-taking purposes. With a substantial number of addresses currently in profit, there’s potential for another wave of profit-taking, the outcome of which hinges on whether the market demand can absorb these sales or if Bitcoin’s price might peak.

On a more optimistic note, inflows to Bitcoin “accumulation addresses”—wallets with no history of selling—have surged recently. CryptoQuant community manager Maartunn highlighted this trend in an X post. Accumulation addresses have added a significant 56,700 BTC to their holdings, suggesting that these long-term holders might be entering another phase of accumulation.

As of now, Bitcoin is trading at approximately $67,400, marking an increase of over 11% in the past week.