Bitcoin has become profitable for approximately 80% of individuals and organizations who have owned it for nearly two years. The latest data on Bitcoin (BTC) reveals the highest profitability level in almost two years.
According to data provided by IntoTheBlock, approximately 80% of Bitcoin wallets are currently profitable. This indicates the highest profitability level observed since December 2021. Part of the increase in profitability can be attributed to the moment the transactions of these wallets started relating to the price.
The current profitability level can be compared to the situation observed before the bull run in the 2020-2021 period. Moreover, there has been a significant accumulation of whales with 1000 BTC or more held in wallets.
When examining the price trend in the daily time frame since the beginning of the year, there is a significant difference between the spot price at the start of the year and the current transaction price. Bitcoin started at a price level of $16,000 at the beginning of the year and then experienced a price increase up to $22,000.
At the time of writing, Bitcoin is seen to exceed $39,000. It has experienced a price increase of approximately 1.5% in the past 48 hours. This price increase indicates that it has more than doubled its value compared to the beginning of the year.
