It would be interesting to see the % of bitcoins that represents - a UTXO with 0.1 BTC shouldn't be weighted the same as one with 50 BTC.
It is also somewhat meaningless if I bought 1 BTC a week ago at $12000 and then moved it to cold storage today, it might show it slightly positive vs reality.
Topic: [2020-08-24] Over 97% of All Bitcoin UTXOs Are in Profit (Read 141 times)
There's actually a lot of bullish signs already, and this numbers coming from Glassnode really emphasised what could really happen to us if we chooses to hold our precious bitcoins. Of course we need traders are well, making shorts, but eventually they are going to be REKT long term.
Although we've experienced quite a decline in recent days, it doesn't mean that there are holders that immediately sell in this flash crash as bitcoin has proven itself time and time again that it can bounce back, hence the bullish sentiments.
Although we've experienced quite a decline in recent days, it doesn't mean that there are holders that immediately sell in this flash crash as bitcoin has proven itself time and time again that it can bounce back, hence the bullish sentiments.
Over 97% of All Bitcoin UTXOs Are in Profit Given a Prevailing Price of $12,000
https://bitcoingarden.org/over-97-of-all-bitcoin-utxos-are-in-profit-given-a-prevailing-price-of-12000/
Bullish crypto market sentiments have sparked an excitement that was probably last seen in 2017 when Bitcoin rallied to it’s all-time high. For around three years, the market has been pretty much bearish with short bullish periods that barely sustained above $10,000. Well, it seems like Bitcoin and other cryptocurrencies are finally going back to the old days of significant volatility; only this time it’s more on the upside.
A recent on-chain weekly report by Glassnode, a crypto analytics service provider, has now revealed that over 97% of Bitcoin unspent transaction outputs (UTXOs) were in the money when BTC tested $12,000 in mid-August. This basically means that less than 3% of Bitcoin UTXOs are out of money or were created when the prevailing BTC price was higher than it is as of press date. According to Glassnode, this is actually bullish sign based on historical stats of UTXOs percentage in profit....
https://bitcoingarden.org/over-97-of-all-bitcoin-utxos-are-in-profit-given-a-prevailing-price-of-12000/
Bullish crypto market sentiments have sparked an excitement that was probably last seen in 2017 when Bitcoin rallied to it’s all-time high. For around three years, the market has been pretty much bearish with short bullish periods that barely sustained above $10,000. Well, it seems like Bitcoin and other cryptocurrencies are finally going back to the old days of significant volatility; only this time it’s more on the upside.
A recent on-chain weekly report by Glassnode, a crypto analytics service provider, has now revealed that over 97% of Bitcoin unspent transaction outputs (UTXOs) were in the money when BTC tested $12,000 in mid-August. This basically means that less than 3% of Bitcoin UTXOs are out of money or were created when the prevailing BTC price was higher than it is as of press date. According to Glassnode, this is actually bullish sign based on historical stats of UTXOs percentage in profit....
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