Traders, defined here as those holding supply aged 1 to 3 months, are clearly back in profit territory.
Their profit/loss margin has swung from -19% to +21% in just one month, with the 30-day moving average now sitting around +9%.
Since the last correction, the realized price for this cohort has dropped to $84 600 and is now stabilizing.
This suggests increased activity from these traders during the recent price dip.
Overall, this is a bullish sign, as long as we don’t enter an overheated profit zone, defined here as a 30-day SMA exceeding 40%.
At +21% unrealized profit, we're still far from the critical +40% zone, but we're entering a phase where traders might start feeling tempted to take partial profits.
Written by Darkfost
