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
Google Launches Gemini Intelligence to Transform Android Experience

Google has launched Gemini Intelligence, an AI feature aimed at automating tasks across apps on Android devices.

Analysts Predict Bright Future for Ethereum

Market analysts predict Ethereum's price could exceed $10,000, with estimates reaching as high as $24,000 due to institutional developments.

Kevin Warsh Confirmed as Federal Reserve Governor

Kevin Warsh has been confirmed by the US Senate to join the Federal Reserve Board of Governors.

Citi Analysts Predict Positive Outlook for Broadcom AVGO Stock

Citi analysts have raised their price target for Broadcom AVGO stock to $500, anticipating strong revenue growth driven by AI demand ahead of the company's Q2 earnings report on June 3, 2026.

Bitcoin Mining Faces Pressure as Rewards Decline

The Bitcoin mining economy is currently facing significant pressure as the halving system continues to reduce miner rewards, raising concerns about profitability and network security.

Emin Gn Sirer Raises Concerns Over Bitcoin's Long-term Security

Avalanche founder Emin Gn Sirer raises concerns about Bitcoin's long-term security due to declining miner incentives, warning of potential risks to the network's stability.

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