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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

75% Of Bitcoin Holders At Spot Rates Are Making Money: Data

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
Bitcoin Holders Making Money

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Data from IntoTheBlock reveals that over 75% of all Bitcoin holders are in the money at spot rates when the prices are at multi-week highs, trading at around $30,000 as of writing on June 22. Bitcoin has been on a firm uptrend over the past few trading days, propelled by supportive fundamentals.

The world’s most valuable cryptocurrency is now up roughly 22% from June 2023 and is trending above crucial resistance levels, now support. At this pace, proponents expect the coin not only to continue edging higher but break above April highs and print new 2023 highs in continuation of the bullish trend of the March to April 2023 trade range.

75% Of Bitcoin Holders Are In Green

At spot rates, IntoTheBlock data shows that 75% of all BTC holders are in the money while a paltry 3% are at break even. This means these holders are not in red or green but are steady without posting any capital gains. 

Meanwhile, despite rapid gains in the past trading week, 22% of all BTC holders are losing money. There is a high possibility that these individuals bought their coins at recent cyclic tops, and considering the sharp drops in the past few weeks, they are still struggling to break even and are far from making profits.

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As an illustration, while Bitcoin is at around $30,000, BTC crashed from April 2023 highs of approximately $31,000 to $24,800, a 20% drop. This followed an encouraging surge from mid-March when BTC prices rallied from $19,700 to register new 2023 highs in April, surging 56%. 

Bitcoin price on June 22| Source: BTCUSDT On Binance, TradingView
Bitcoin price on June 22| Source: BTCUSDT On Binance, TradingView

Notably, even at the current formation, bulls are expecting a resumption of this solid trend and a possible break above $31,000 in continuation of Q1 2023 performance. At that time, the uptick followed fears of a system-wide collapse of the banks in the United States. 

The collapse of the Silicon Valley Bank (SVB) impacted Circle, the issuer of USDC, and forced capital to establish coins like Bitcoin. During that time, Binance also said they were converting their $1 billion Industry Recovery Fund to Bitcoin and other assets, including BNB and Ethereum, pumping these coins.

The Bitcoin Run Continues

Bitcoin remains supported primarily because of regulatory factors, including the United States Securities and Exchange Commission (SEC) reiteration that the coin is the only commodity in the nascent sector. In their legal actions against Binance and Coinbase, the regulator alleged several top-tier altcoins, including Cardano’s ADA, as examples of unregistered securities. While these coins fell, capital flowed to Bitcoin, forcing prices higher.

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However, the surging interest from institutions, including BlackRock and Valkyrie, and their application for a Bitcoin spot exchange-traded fund (ETF) have been supporting prices. Whether the SEC will approve is yet to be seen. In recent years, the regulator has disapproved several Bitcoin Spot ETFs, citing manipulation and the unregulated nature of cryptocurrencies.

Feature Image From Canva, Chart From TradingView
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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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