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30 million Bitcoin addresses in profit as metric hits 9-month high

  • Bitcoin addresses in profit is at a 9-month high of 30+ million.
  • More unique addresses in profit were last above 30 million in early April 2022.
  • Non-zero addresses also hit a 1-month high while addresses with 0.01+ BTC is at an all-time high.

The number of Bitcoin addresses that are currently in profit has reached a 9-month high, on-chain data shared by crypto platform Glassnode shows.

Per the metric, the percentage of unique addresses with Bitcoin funds in profit were 30,081,429 on Monday morning. The figure is a 7-day moving average measure and shows the current value of BTC in the wallets compared to the average buy price.

Therefore, these 30 million plus BTC addresses currently hold coins that were valued lower at the time of their purchase when compared to their current value.

Chart showing number of BTC in profit. Source: Glassnode.

Addresses with 0.01+ coins hit all-time high

At the time of writing, Bitcoin’s addresses in profit (7-day moving average) sat at a 9-month high after Bitcoin’s latest price action. The last time these many BTC addresses were in profit was in April-early May 2022 – with this happening as the events of Terra and Three Arrows Capital collapse helped to push prices below $40k.

Bitcoin eventually sank to lows of $15,600 in November amid the FTX-triggered sell-off that likely saw more people buy Bitcoin.

Now BTC is up more than 40% in 2023 and is currently above the $23,000 price level, helping add over 7 million more unique addresses into the profitable bracket as prices began to soar in January.

Meanwhile, the number of non-zero addresses has also increased, reaching a 1-month high of over 43 million. Indeed, the number of addresses with 0.01+ coins has recently hit an all-time high of 11,484,618, according to on-chain data Glassnode shared early Monday.

The post 30 million Bitcoin addresses in profit as metric hits 9-month high appeared first on CoinJournal.