Bitcoin price fell to less than $ 117,000, as data on the series shows that the network has noticed one of the largest profit days per year.
Bitcoin holders in the long term made the main share of the profits
In new mail In X, Glassnode talked about the latest trends about the latest trend in the Bitcoin profit index for short -term holders and long -term holders. The measures of “real profit”, as its name suggests, the total amount of the profit that BTC investors realize through their transactions.
The scale works by passing through the date of transferring each currency sold to find out the price that was transferred before that. The difference between this previous price and the current selling price indicates the profit amount or the loss involved.
Of course, the sale realizes a profit if the difference is positive. The achieved profit adds this value that all the type of transactions that happen on Blockchain. Another indicator known as the achieved loss tracks the sales of the opposite type.
In the context of the current discussion, the profit achieved for a specific piece of the sector is important: short -term holders and long -term holders (LTHS). Investors are divided into these groups based on time. In particular, their holders who were carrying their coins are placed for 155 days or less in Sths and those who exceeded this threshold are LTHS.
Below is the graph that Glassnode shares, which shows the trend in the profit of the two sides of the Bitcoin Market.
As shown in the graph, the profit that Bitcoin launched mutations for each of these groups during the past 24 hours, which means that investors throughout the market have achieved gains while benefiting from the assembly to the highest new level (ATH) above 123,000 dollars.
In total, profit holders made profits equal to $ 3.5 billion in this window, making the profit achievement event the largest of this year. Interestingly, LTHS occupied a higher share ($ 1.96 billion or 56 %) of profit from STHS ($ 1.54 billion or 44 %).
In general, the longer the investor’s associate for his coins, the less likely to sell it. As such, LTHS with a relatively long retaining time is the firm side of the market.
However, although its strong determination, it seems that the latest increase in bitcoin prices made a strong temptation enough until these diamond hands are affected. It seems that the result of the sale so far has decreased to levels less than $ 117,000.
BTC price
At the time of this report, Bitcoin floats about $ 116,700, an increase of more than 7 % last week.
The post Bitcoin Falls Below $117,000 Amid $3.5 Billion Profit-Taking Frenzy first appeared on Investorempires.com.
