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The number of Bitcoin addresses that are currently profitable has reached a nine-month high in on-chain data shared by cryptocurrency platform Glassnode. show.
According to the metric, 30,081,429 unique addresses made a profit with Bitcoin funds on Monday morning. This chart is a 7-day moving average measure, showing the current value of his BTC in his wallet compared to the average purchase price.
Therefore, these 30+ million BTC addresses currently hold coins that are worth less at the time of purchase compared to their current value.
A chart showing the number of BTC in profit. Source: Glassnode.
At the time of writing, bitcoin address profits (7-day moving average) are hitting a nine-month high after Bitcoin’s latest price move. The last time many of these BTC addresses were profitable was from April 2022 to his early May. This is because the event of the collapse of Terra and Three Arrows Capital helped push the price below $40,000.
Bitcoin eventually dropped to a low of $15,600 in November amid a sell-off triggered by FTX that likely saw more people buy bitcoin.
BTC is now up more than 40% in 2023 and is currently above the $23,000 price level, adding over 7 million unique addresses to the profitable bracket as the price began to skyrocket in January. I’m here.
On the other hand, the number of non-zero addresses is also gain, surpassed 43 million, the highest in a single month. In fact, according to on-chain data Glassnode, the number of addresses with coins above 0.01 recently reached a record high of 11,484,618. share early hours on Monday.
