Bitcoin’s long-term holders remain broadly in profit, analysts say

Market turbulence have left many losses, but long -term bitcoin holders remain largely unaffected, say Glassnode analysts.

Bitcoin (BTC)) Long -term holders are still in a strong position despite the continuous uncertainty of the market, according to a new report of the chain analysis company Glass knot.

Although many new investors are currently faced with the “largest unrealized losses never recorded”, long -term holders “remain largely in profit,” said the report. The analysis emphasizes that if short -term holders undergo significant unrealized losses, long -term investors continue to hold their positions.

“”[…] From the point of view of individual investors, the market has endured much more serious withdrawals in previous cycles, especially during the bear markets in May 2021 and 2022. ”

Glass knot

In addition, the report indicates that “the percentage of the supply in circulation held in a profitable position remains high at a value of 75%”, which suggests that the majority of underwater investors are recent in market participants. Glassnode also noted that the offer owned by continuous long -term holders of upward trend, indicating confidence among experienced investors.

Although historically substantial expansions of the unrealized losses in long -term holders “have often marked confirmation of bears market conditions”, analysts say that for the moment, there is “no clear evidence that suggests that such a change in regime is underway”.

Earlier in April, Cryptocurrency Exchange Coinbase warned This crypto can enter a new lowering market, but it expects prices to find support between May and June, potentially by creating a stronger Q3.