Glassnode: Over 90% of Bitcoin supply remains profitable despite market fluctuations
Glassnode data shows that despite recent Bitcoin price fluctuations, a significant portion of Bitcoin holders are still profiting - as of May, over 90% of the Bitcoin supply is in profit. This trend suggests that holders are maintaining their positions amidst market volatility, reflecting the resilient support level of Bitcoin. Moreover, the price trend for Bitcoin in 2024 resembles previous years' (especially 2017) fluctuation periods.
Glassnode's data also indicates that the Bitcoin market is experiencing support levels, which boosts holder confidence even though this asset is undergoing typical cyclical adjustments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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