As of June 23, 83% of Bitcoin addresses are currently profitable, according to Glassnode.
This is a 43% increase from the bottom for 2020. From 45%, which followed the collapse of the price of Bitcoin on March 12.
On June 1, 88.72% of all Bitcoin addresses were in profit, which is the highest value of this indicator for the year.
The price of Bitcoin shot to a quarterly high of $ 10,425 before clearing its gains the next day.
Still, that figure remains well below last year’s 94.69% peak, which was reported on June 26, 2019, when the price jumped to $ 13,800.
Overall, this is quite a bullish sign for the flagship cryptocurrency.
While much of Bitcoin investors are sure to reap partial profits at higher levels, the ‘hodl’ mentality remains strong in the crypto community.