Bitcoin (BTC) Price Holds Above $100K as Over 97% of Holders Turned Profitable

Bitcoin’s price has been holding strong above the important $100,000 mark as seen on-chain, with on-chain analysis revealing that over 97% of Bitcoin holders are now in profit.

Bitcoin’s recovery continues as the price trades above a key Fib level, and its recent bounce back has led analysts and traders to predict different future price targets based on their research and opinions.

While Bitcoin risks a selloff ahead with several on-chain metrics suggesting a potential correction, some key on-chain metrics are rising, which supports this ongoing recovery.

Bitcoin Surges Past $100K, Signaling Strong Buying Pressure

Bitcoin’s price has surged past the $100,000 mark, shifting market sentiment in a big way. Helped by easing tensions in the U.S.-China trade situation, derivatives traders betting against Bitcoin took heavy losses as the price broke this key level.

According to Coinglass, around $279 million in Bitcoin positions were liquidated in the past 24 hours. Out of this, $243.3 million liquidation came from sellers and $35.7 million from buyers.

The large liquidations signaled the strong directional move in the market, with traders who shorted Bitcoin taking significant losses.

Moreover, the cryptocurrency market continues to show signs of recovery, evidenced by a slight decrease in open interest and a sustained increase in trading volume.

Over 97% Bitcoin Holders Now in Profit As BTC Surges Past $100K

Data from IntoTheBlock shows that over 97% of Bitcoin holders are now in profit. BTC’s surge past the $100K mark has led to massive gains for long-term investors, but it could also lead to selling pressure in the short term, as more holders may decide to cash in on their gains.

At the same time, whale activity is also adding to the market’s volatility. The volume of large transactions has risen sharply, climbing from $68.45 billion to $72.67 billion, indicating increased activity among big players.

More notably, the large holder netflow to exchange ratio has jumped to 0.17%, meaning these big investors are moving more Bitcoin onto exchanges. This kind of behavior often signals that whales are preparing to sell as the BTC price surges, which can lead to short-term price drops or market swings if selling volume spikes.