Despite facing volatile fluctuations akin to those experienced in 2017, Bitcoin remains steadfast. More than 90% of the cryptocurrency's circulating supply remains profitable, showcasing resilience amidst market turbulence. Analysis of onchain data reveals a narrative of endurance and speculation. This year, Bitcoin appears to be replaying the drama of its 2017 journey. The digital asset's rollercoaster ride in 2024 mirrors the unpredictability of Breton weather, with dramatic price swings highlighting its speculative nature. However, enthusiasts stand unwavering, holding their positions with the tenacity of seasoned traders. This steadfast support remains unshaken by external factors, indicating a strong market foundation impervious to regulatory changes or macroeconomic shifts. Recent data from Glassnode brings a glimmer of hope to Bitcoin holders as over 90% of the supply remains profitable despite recent market volatilities. The majority of circulating bitcoins were acquired below current market prices, reflecting a robust market structure capable of weathering cyclical shocks. Trends indicate a complex interplay between price fluctuations and entity profitability, with entities maintaining positions to reinforce market support and potentially mitigate significant declines. The consolidation of prices at crucial levels and sustained profitability hint at a newfound stability in the Bitcoin market, despite its ever-changing nature. While Bitcoin continues to offer excitement, holders seem to have mastered the art of remaining resilient.
Bitcoin Resilience and Market Dynamics

by Giorgi Kostiuk
2 years ago

Other news
Bearish Market Sentiment Reflected in Current Funding Rates

Current funding rates across major centralized and decentralized exchanges are signaling a bearish market sentiment.

Smaller Altcoins Experience Significant Price Surges

Smaller cryptocurrencies like Seeker and Elsa are experiencing significant price surges, attracting investor interest.

NEO N3 Hard Fork: A Major Upgrade for the Blockchain

The NEO N3 hard fork, scheduled for February 2, 2025, is a significant upgrade aimed at enhancing performance, governance, and functionality of the NEO blockchain.

Traders Fair 2026 Set to Ignite the Finance Community in Lagos

Lagos is preparing for Traders Fair 2026, a significant financial event for traders and finance enthusiasts, featuring seminars, discussions, and networking opportunities on April 10, 2026.

Steak n Shake Introduces Bitcoin Bonus for Hourly Employees

Steak n Shake will reward hourly employees with a Bitcoin bonus starting in March 2025, with a two-year vesting period.

Steak n Shake Partners with Regulated Crypto Custodian for Bitcoin Program

Steak n Shake partners with a regulated cryptocurrency custodian to manage its Bitcoin bonus program for hourly employees, ensuring secure management and compliance.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter