No Bitcoin HODLer is currently losing money: data

TL; DR

Bitcoin rose above $62,000 after the US Fed cut interest rates, with 88% of holders now profitable. Analysts remain bullish on BTC, predicting further gains if it retakes the $65,000 resistance level, which is growing optimism for an extended bull run.

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The main success

The price of Bitcoin has seen a recent surge as the long-awaited pivot from the US Federal Reserve crossed $62,000. Central Bank of America It is lowered Interest rates will rise for the first time in years on September 18, making it cheaper to borrow money and boosting investor interest in riskier assets like BTC.

basis Per IntoTheBlock, about 88% of HODLers are currently sitting on paper profits, while 12% are broke. What is surprising is that no one is occupying the property. Currently in the water.

Data to TheBlock More It shows that 71% of BTC holders who entered the ecosystem 12 months ago are long-term investors. 25% did last year and only 5% jumped on the bandwagon in the last 30 days.

Another high-profile cryptocurrency whose holders are mostly in the green is Tron (TRX). Currently, 94% of investors are sitting on paper profits, 3.4% are broke even, and only 2.7% are down on their initial investment.

The price of TRX is down slightly on a weekly basis but is well in the green since the beginning of the year. It trades around $0.15 As the momentThat means a 50% increase from January 1.

Is BTC ready to climb to higher ground?

The resurgence of Bitcoin was met with great enthusiasm by many Members of the crypto community, some believe the rally is nowhere near the end.

X User Jelle He argued BTC's “3-day bullish divergence is playing out, and it doesn't look like it's over yet.” The analyst thinks A “full bull” run can ignite Once the asset recovers the $65,000 resistance level. “Over It's getting closer. as soon as . Let's roll,” he concluded.

Ali Martinez also contributed. The resumption of the bull market is dependent on BTC closing above $61,500 on September 18, he said. However, the asset fell short of that goal, ending the day at around $60,200.

#Bitcoin will try to break an important trend line. A close above $61,500 today could signal the resumption of the bull market! #Uptober pic.twitter.com/CU2a38Jsdh

— Ali (@ali_charts) September 18, 2024