Long-Term Holders Reap Profits as Bitcoin Surpasses $71K
Bitcoin's recent surge past $71,000 has catapulted all long-term holders into profit. According to Glassnode, even those who bought during the peak of the 2021 bull market are now in the green. This marks a significant turnaround as Bitcoin's price surpasses its previous all-time high.
As of June 4, just 0.03% of long-term holders were still at a loss when Bitcoin was around $68,000. However, these losses have since turned into gains. Glassnode reports that at $68,000, approximately 4,900 BTC were still held at a loss, but this figure has since become negligible.
The latest surge has sparked renewed market optimism. Short-term holders, primarily those who bought in March, are still shouldering most of the unrealized losses. This shift in market sentiment suggests a potential bullish trend.