Bitcoin's Remarkable Profitability Milestone ??
Almost all Bitcoin holders (98.9%) are currently in profit according to IntoTheBlock data, representing a staggering $2.17 trillion worth of BTC purchased below current prices. This unprecedented profitability suggests minimal selling pressure as investors enjoy their gains.
The remaining 1.1% of holders are "at the money" with zero holders currently at a loss—a truly rare bullish indicator!
Bitcoin is trading around $109,885 with increased trading volume (up 30.62% to $60.96 billion), sitting just 2% below its all-time high of $111,970. Recent price action shows consolidation between $108,500-$110,500, with brief tests of the $110,500 level.
For Bitcoin to reach the anticipated $120,000 milestone, it needs to break resistance at $112,000. However, failure to do so could trigger a correction toward $105,000.
