Short-term holders recover gains as 87% of Bitcoin's supply now in profit

07/17/2024 18:59

Bitcoin's price surge to $64K puts 87% of supply in profit, resulting in historic profitability gains for short-term holders.

Short-term holders recover gains as 87% of Bitcoin’s supply now in profit 5 seconds ago · 3 min read

For the first time since June, STH MVRV ratio exceeds 1.

3 min read

Updated: Jul. 17, 2024 at 12:59 pm UTC

Short-term holders recover gains as 87% of Bitcoin’s supply now in profit

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin's meteoric rise to $64,000 has turned the market green, reversing weeks of bearish performance. This uptick, triggered by shocking news, has significantly boosted short-term holder (STH) profitability metrics. For instance, the percentage of Bitcoin's supply in profit soared dramatically and STH-related ratios like NUPL have finally turned positive. As recent buyers start seeing gains... the key question now is: will the market sustain this bullish trend or will...