Glassnode data revealed that 87 percent of Bitcoin (BTC) holders are profitable.
PlanB, one of the popular analysts of the crypto market, shared important data regarding the course of BTC. Glassnode data highlighted that the BTC profitability rate has reached the highest level since November 2021.
The data shared by PlanB attracted intense attention from the crypto community. Profitability data attracted attention these days when BTC exhibited mobility between 37-40 thousand dollars in anticipation of the Bitcoin spot ETF.
Bitcoin (BTC) profitability reached 87 percent: Is there a risk?
These days, when things are going well in the crypto market and expectations are evolving day by day, Glassnode data has left its mark on the agenda. PlanB shared Glassnode’s data on the X platform and drew attention to the profitability rate. Popular analyst PlanB pointed out that BTC is advancing around $ 37,500 and stated that the profitability rate is 87 percent. PlanB responded to this data with a rocket emoji. However, the data in question also revealed suspicions that sales pressure could come at any time.
87% of all bitcoin is in profit (yellow)🚀 pic.twitter.com/3g1337bQh8
— PlanB (@100trillionUSD) November 22, 2023
The crypto community is thoughtful about what this data indicates. Many users asked PlanB’s post what the data meant. However, PlanB did not make a statement on the data.
The 87 percent of BTC holders in Glassnode’s latest report making a profit is the highest rate since November 2021, when BTC was trading around its all-time high of $68,789.
Although the market interpreted the data differently, Glassnode stated that BTCs still remained modest despite the high profitability rate. Glassnode does not think BTC holders will sell at this rate of profitability.
