Bitcoin has reached another historical milestone. According to the latest data from the on-chain analytics platform IntoTheBlock, everyone who currently holds the cryptocurrency is in profit. This situation does not happen often and shows how strong Bitcoin’s price growth has been so far this year.
Bitcoin is shifting to long-term investors. Most bought below $50,000
The main reason is that a large proportion of investors bought BTC when its price was well below its current level. For example, during 2023 and early 2024, Bitcoin was available for less than $50,000, which many long-term investors took advantage of to accumulate.
Statistics show that 76% of all current holders have held their coins for more than a year. Another 20% of people have bought in the last twelve months, and only 4% are newcomers who have only recently entered the market. Bitcoin is thus increasingly moving from speculators to investors who believe in it for the long term.
Bitcoin is mainly held by long-term investors
The average daily trading volume over the last 30 days was $61.66 billion, which is 89% more than Nvidia’s shares. The current price of Bitcoin is around $120,000, and the cryptocurrency continues to grow. For a moment, it even became the fifth largest asset in the world, surpassing Amazon, Google, and silver. The growth is not only driven by speculation, but also by strong institutional and retail demand.
The third weekly increase in a row indicates a continuing bullish trend. If this development continues, we may see another wave of accumulation and new price records that would strengthen confidence in Bitcoin among the general public.
