Bitcoin rallied past $63,000 this week before retreating to around $62,000. Over the past month, the asset has recorded an impressive 46% gain. Despite the massive bullish momentum, the chances of correction depict a cautionary tale. The latest surge in the price of the leading crypto asset has propelled a significant number of Bitcoin addresses into profitable territory, marking a historic low for addresses in loss. During bullish phases, the majority of Bitcoin’s circulating supply sits in unrealized profit while losses are minimized. During bearish periods, the circulating supply tends to suffer from unrealized losses.
Source: Chayanika Deka, 2024-03-02; https://cryptopotato.com/bitcoin-btc-addresses-in-loss-plumment-to-historic-loss-but-theres-a-catch/