Bitcoin Profitability Skyrockets To Record Levels With 99.9% Of Addresses In Profit

Bitcoin’s recent significant upward move to a new all-time high has triggered massive gains in the market as investors, both retail and institutional are currently seeing notable profits from their investments, further solidifying BTC’s position as the leading digital asset in the entire crypto industry.

Bullish Run Pushes Bitcoin Holders Into Profitable Territory

Amidst rising interest toward Bitcoin, data from advanced investment data platform, Alphractal shows that about 99.9% of all BTC addresses are currently in profit, marking a major milestone for holders of the crypto asset.

This accomplishment reflects its recent uptrend, with all wallets holding BTC now showing gains as the digital asset inches closer to higher levels. Also, the development underlines robust accumulation and investors’ confidence, which could further support its upside momentum.

After thorough navigation of Bitcoin‘s Percentage of Addresses in Profit Vs. Loss metric, the platform reported that each time the overall address of BTC has been in profits, the stage has only lasted up to two days.

Furthermore, Alphractal highlighted that the percentage of profitable addresses fluctuated between 80% and 100% for months in the 2017 and 2020/2021 cycles. However, the metric was unable to maintain its position at 100% at the top in late 2021.

It is important to note that the increase in profitability of all addresses may cause a bearish shift for Bitcoin. This is due to the fact that during other similar periods, the market tends to experience brief corrections, suggesting that the renewed price strength of BTC might face a pullback shortly. “So, with Bitcoin breaking the all-time high, a few days of correction are expected,” the platform stated.

Nonetheless, should the percentage drop while Bitcoin prices are still trending upward, the development signals that investors are taking on high-priced exposure, which is in line with local tops in past cycles.

BTC Average Profitability Metric Draws Closer To Previous Levels

The ongoing uptick of Bitcoin over the past weeks has also led to a surge in its average profitability index as moves towards the last cycle’s level, reflecting heightened gains for investors and traders.

Macro researcher and on-chain data analyst, Axel Adler Jr. shared the positive development in a recent post on the X (formerly Twitter) platform. Typically, a rise in the index has bolsters BTC’s future price performance, attracting both old and new investors.

According to recent reports, the key index has grown by over 221%, with a prior high of 272% and previous cycle peaks of 460% and 395%. Meanwhile, the average profitability of users is now 121% higher than their initial investments.

At the time of writing, BTC was trading at $76,090, indicating about 1.50% in the past day. In the larger outlook, such as the weekly and monthly time frame, the crypto asset has risen by over 8% and 22%, respectively, with signs of more growth.