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Sentora: About 95% of Bitcoin addresses in profitable state, $116,000 to $119,000 range may become resistance
Summary: According to Sentora (formerly IntoTheBlock) on-chain data analysis, Bitcoin's recent volatility remains at around 20%, showing a long-term downward trend with no signs of compression in the short term, keeping the market in a range-bound state. The correlation between Bitcoin and traditional financial markets is gradually increasing, especially with the S&P 500, indicating that Bitcoin's ...
According to Sentora (formerly IntoTheBlock) on-chain data analysis, Bitcoin's recent volatility remains at around 20%, showing a long-term downward trend with no signs of compression in the short term, keeping the market in a range-bound state. The correlation between Bitcoin and traditional financial markets is gradually increasing, especially with the S&P 500, indicating that Bitcoin's sensitivity to macroeconomic conditions may be rising. In terms of on-chain costs, currently about 95% of Bitcoin addresses are in a profitable state, but this is slightly lower compared to the historical high of $121,000 in July. Data shows that many holders purchased Bitcoin in the $116,000 to $119,000 range and are currently at a loss, making this price range a significant resistance for future upward movement.
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Link: Sentora: About 95% of Bitcoin addresses in profitable state, $116,000 to $119,000 range may become resistance [Copy]
