#NewHighOfProfitableBTCWallets A new high of profitable Bitcoin wallets has been reached, with approximately 90% of BTC wallets in profit. This surge is attributed to Bitcoin's recent price movements, which have pushed the majority of wallets into the profit zone. Here's what's driving this trend ¹ ²:
- *Profitable Addresses*: Around 40 million Bitcoin addresses are currently in profit, a record number. This represents about 80% of all Bitcoin addresses.
- *Price Impact*: When Bitcoin's price surged past $45,000, it propelled over 90% of all BTC addresses into profitability. Currently, with Bitcoin trading around $108,745, the number of profitable wallets remains high.
- *Market Sentiment*: The Crypto Fear & Greed Index indicates a bullish sentiment among traders, with a reading of 73, meaning traders are "greedy". This sentiment is supported by the fact that Bitcoin holders have consistently taken profits for nearly 100 days, but the price continues to rally.
*Key Statistics:*
- *Bitcoin Price*: $108,745.11 (current price)
- *Percent Change*: -3.65% (in the last 24 hours)
- *Market Cap*: $2.25 trillion
Keep in mind that the relationship between profitable wallets and market trends can be complex. While a high number of profitable wallets might indicate a strong market, it could also lead to increased selling pressure as holders capitalize on their gains ¹.
