Bitcoin’s price has bounced back, hitting over $115,000, and investors are making a killing. This isn’t just a price jump; it’s a profit explosion.
A Billion-Dollar Profit Bonanza
Data from Glassnode shows Bitcoin holders raked in over $1 billion in profit in just 24 hours! This massive surge in realized profits shows a renewed confidence in the crypto market, with both big and small investors taking advantage of the price increase.
Who’s Getting Rich?
The biggest winners? Bitcoin holders who’ve been in the game for 7 to 10 years. These long-term investors cashed in over $362 million – a whopping 35.8% of the total profits. This is a pretty rare event, suggesting either some serious internal shuffling of Bitcoin or actual selling by these long-term holders. Even those who bought Bitcoin 1 to 2 years ago saw significant gains, pocketing around $93 million.
Everyone’s Buying Bitcoin
Glassnode also noticed something interesting: both small and large investors are buying more Bitcoin. Even during recent price dips, they were snapping up BTC, showing strong belief in its future. The average amount of Bitcoin held by both retail investors (those with less than 1 BTC) and ultra-large holders (those with 10,000 BTC or more) has increased over the past 15 days. This suggests that many investors were buying the dip.
A Bit of Caution
While the price is up and profits are soaring, there are some signs of caution. Trading volume is down over 5% in the last 24 hours, hinting that investor sentiment might be cooling off slightly. Still, with Bitcoin trading at around $114,911, it’s been a pretty good week for many crypto investors.