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Bitcoin Realized Profits Surge As Investors Capitalize On Market Rebound
A recent surge in realized profits for Bitcoin has been observed by Glassnode, a leading on-chain data analytics platform. This significant increase in gains can be attributed to the cryptocurrency’s market rebound.
For the past few weeks, the price of BTC has experienced an upward trend, regaining the $114,000 mark and leaving investors with substantial profits. The data collected by Glassnode indicates that these investors have been capitalizing on the current bullish action by selling their Bitcoin holdings at higher prices.
Realized profits for Bitcoin holders surge to over $1 billion within a 24-hour period
According to the provided data, realized profits of more than $1 billion were recorded in a single day. This rapid rise in profit-taking is an indication that investors are growing increasingly optimistic about the cryptocurrency’s future prospects.
This surge can be observed across different cohorts of Bitcoin holders. It has been noticed that those who held their coins for 7 to 10 years, often referred to as ancient BTC holders, have achieved profits exceeding $362 million, accounting for nearly 36% of the overall realized profits.
Large and small-sized investors join forces in buying spree
The data further indicates that both large and small Bitcoin holders are actively participating in this buying spree. Retail investors with a holding period ranging from one to two years have also seen notable profit realization of $93 million.
This substantial surge in profit-taking is a rare event, indicating heightened activity on the blockchain.
In conclusion, the current market trends suggest a growing trust among investors in Bitcoin’s long-term prospects.
Source: bitcoinist.com
