At the end of last week, the Bitcoin price crossed the $31.1k level. After recording a slow weekend, the price of BTC continues to hover around the psychological $30,000 mark. At the time of writing, the bears and the bulls are still taking control of the market.
For now, the market continues to exhibit ‘greed’. In the first hours of the second trading session, Bitcoin’s fear and greed index showed a reading of 69. On the one hand, greed requires the market to correct. On the other hand, some analysts believe that Bitcoin’s latest $30k feat is just the beginning of what is expected to develop into a full-fledged bull run in the medium term.
Bitcoin Profitable Day
Regardless of the short-term perspective, it is interesting to note that out of Bitcoin’s 4,620 days of existence, BTC holders have been in a profitable position for about 4,122 days, which is analyzed data from Blockchain. .com.
“Bitcoin investors have enjoyed 89.22% of profitable days to date compared to current prices,” according to Blockchain.com.
As described below, only 501 or 10.84% of the total days are unprofitable for long-term BTC holders. There was only one long period of no profit, illustrated in red on the chart below.
It is interesting to note that the rate of return of Bitcoin addresses is also trending up. Data from Glassnode reveals that the return rate of Bitcoin addresses has just hit a 1-year high of 75.57%. Besides, the trend of accumulating more Bitcoin also seems to be going strong. The number of addresses that own more than 0.1 BTC hit a new all-time high of 4,308,379 today, shedding light on the unbounded sentiment of investors.