Bitcoin has had a tumultuous few weeks in terms of price action. The world's largest cryptocurrency is currently up 19% over the past seven days and 43% over the past 30 days, its highest percentage gains in more than a year. As a result, a large number of BTC addresses were pushed into the profit zone. For the first time in more than two years, 97% of Bitcoin addresses are profitable.
Number of Bitcoin addresses in profits soars as price surges
According to data from the encryption on-chain analysis platform IntoTheBlock, 50.62 million Bitcoin addresses are currently profitable at current price levels. This huge number accounts for over 97% of the total wallet addresses. It’s worth noting that the last time holders saw such high profitability was in November 2021, when the price of Bitcoin was around $69,000, close to all-time highs.