The cryptocurrency market is once again showing positive trends, with Bitcoin surpassing the $97,900 mark, bringing hope to investors.
Recovery in Bitcoin Prices
Amid recent fluctuations in the crypto market, Bitcoin (BTC) reached a high of $97,900, the highest level seen in over two months. As of now, Bitcoin is trading at $96,554.93, showing a 2.18% increase over the last 24 hours.
Investor Skepticism
Recent data indicates that skepticism remains among investors. While major investors remain optimistic, many retail investors are concerned about the possibility of further price declines. However, the recent price surge has restored some confidence in the market.
Status of Short-Term Holders
Data from Glassnode shows a significant reduction in unrealized losses among short-term Bitcoin holders. This suggests that many investors who recently entered the market are back in the green again. The recovery in profitability also extends to institutional investors who are seeing improved returns.
With the recovery in Bitcoin prices and decreased losses, optimism in the market is growing. The near-term target of $100,000 is becoming increasingly realistic.
