Bitcoin remains steadily above $108,000 in the face of recent market corrections. Current data indicates that over 93% of Bitcoin holders are in profit.
Current Price and Holder Profitability
According to IntoTheBlock, more than 93% of Bitcoin holders are in profit, signaling strong support from long-term investors despite current market adjustments.
Increase in Bitcoin Market Dominance
Bitcoin's dominance in the cryptocurrency market has risen to 64%, suggesting stronger investor interest in Bitcoin compared to altcoins, which have been experiencing significant losses recently.
Institutional Buys vs. Falling Demand
Companies like Strategy (formerly MicroStrategy) are still increasing their holdings, but overall demand for Bitcoin has declined by 895,000 BTC over the past 30 days. This drop in demand is hindering upward price momentum, keeping it locked in a consolidation range.
The current state of the Bitcoin market emphasizes the importance of long-term investments amid fluctuations and declining activity. Investors are closely monitoring this consolidation to gauge potential future price movements.
