- Over 99% of all Bitcoin addresses are now in profit.
- Bullish signs for BTC rally remains strong.
- The crypto market and BTC remain bullish for Q4.
The crypto community is eager to see the price of the pioneer crypto asset, Bitcoin (BTC) , surge and hit a much higher new ATH target. Presently, over 99% of all Bitcoin addresses are now in profit, signaling bullish signs for BTC to pump again. The price of BTC just set a new ATH price at the $126,000 price range two days ago, and with no profit-taking action ensuing, analysts are certain that a much higher new ATH price will be hit in Q4.
Over 99% of All Bitcoin Addresses Are Now in Profit
The price of the pioneer crypto asset, Bitcoin (BTC), went on to set three consecutive new ATH prices earlier this week. In detail, Bitcoin set two new ATH prices in the $125,500 price range at the $125,505 and $125,559 bull targets. Soon after, Bitcoin went on to set one more new ATH price in the $126,000 price range and has since been trading at a slightly lower price in the $122,000 price range.
According to CoinMarketCap analytics, the price of BTC has not fallen below the $120,000 price range, showing steady bullish signs for the pioneer crypto asset. Presently, BTC is trading at $121,950 and is still in a bullish green state. With a total market cap of $2,430,604,911,497.65 and a 24-hour trading volume of $61,733,868,226.58, Bitcoin could reclaim its latest ATH price with a small pump of 3.27%.
At the moment, bullish expectations for Bitcoin (BTC) are strong, and most analysts expect to see a strong price rally for BTC to surge to highs as far as $130,000 – $135,000 or even $140,000 – $145,000. The main reason for this is high pump expectation is due to the fact that over 99% of all Bitcoin addresses are now in profit. This paired with the fact that the profit-taking selling has not yet ensued marks the surety of a new ATH for BTC soon.
Bullish Signs for BTC Rally Remains Strong
One response to the fact that over 99% of all Bitcoin addresses are now in profit and how this marks a bullish sign for the crypto market to surge further in Q4 states that Bitcoin’s scarcity forces the populous to think about what wealth really means, not consumption, but rather preservation, control, and freedom. Meanwhile, other responses add to the narrative. The post below says bearish action on BTC is weak at the moment.
One says that when nearly every holder is in profit, it marks late-stage optimism but not always exhaustion. What matters next is whether conviction holders stay unshaken as momentum players join in. In addition, another response says that historically, when over 99% of BTC addresses are in profit, markets enter their final expansion phase before major distribution. Eyes on the next few months.
