Bitcoin's meteoric rise to $64,000 has turned the market green, reversing weeks of bearish performance. This uptick, triggered by shocking news, has significantly boosted short-term holder (STH) profitability metrics. For instance, the percentage of Bitcoin's supply in profit soared dramatically and STH-related ratios like NUPL have finally turned positive. As recent buyers start seeing gains... the key question now is: will the market sustain this bullish trend or will...
Short-term holders recover gains as 87% of Bitcoin’s supply now in profit Short-term holders recover gains as 87% of Bitcoin’s supply now in profit
For the first time since June, STH MVRV ratio exceeds 1.
3 min read
Updated: Jul. 17, 2024 at 12:59 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
