Glassnode Report: Bitcoin Establishes Solid Base Below $30,000

  • Blockchain data company Glassnode reports that Bitcoin’s supply distribution has formed a solid base below $30,000.
  • The majority of Bitcoin holders in profit are long-term investors who either hold onto their coins or take profits as prices rise.
  • Once a 75 to 25 profit-to-loss ratio is achieved, a significant “digestion” process occurs, leading to an accumulation period.

Bitcoin’s Solid Base Below $30,000

According to Glassnode, a company specializing in on-chain data, Bitcoin’s supply distribution has created a robust foundation beneath the $30,000 mark. The firm’s recent report indicates that the current profit-to-loss ratio is 75 to 25, meaning only a quarter of all coins were purchased above $30,000.

Long-Term Investors Dominate Profitable Holdings

Glassnode’s report further elaborates that the group in profit is predominantly composed of long-term investors. These individuals either hold onto their coins, a strategy known as “hodling,” or they take profits as the price of Bitcoin increases. The report suggests that a significant number of coins have changed hands in the past year, with a large cluster of purchases made between $15,000 and $30,000. However, only 25% of the supply was bought at prices above $30,000, with these purchases made during the 2021/2022 cycle.

Accumulation Period Follows Profit-to-Loss Ratio

The blockchain data firm also notes that once a 75 to 25 profit-to-loss ratio is reached, a substantial “digestion” process takes place, leading to an accumulation period. These accumulation periods are typically characterized by a lack of significant macro market movements and several months of volatile trading. As the market seeks this balance point, it remains to be seen whether a long and volatile process will ensue.

Glassnode had previously noted in one of its reports that Bitcoin is currently exhibiting movements similar to those seen before previous bull seasons.

Glassnode Report Bitcoin Establishes Solid Base Below 30000

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Coinglass Warns Ethereum Could Trigger $1.488B Long Liquidations Below $4,500 or $1.566B Shorts Above $4,800 on CEXs

Coinglass data cited by COINOTAG on September 14 indicates...

Bitcoin Reacts to Fed’s Likely 25bps Cut: Markets Brace for Powell’s Dot Plot and Global Rate Decisions

Recent macro releases — a moderate CPI and PPI...

Vitalik Buterin Announces Ethereum’s 10x Capacity Push via Layer-2 at EthTokyo 2025, Urges Asian Developers

At EthTokyo 2025, Ethereum co‑founder Vitalik Buterin outlined a...

Bitcoin Dominance Drops to 57.35%, Nearing 2025 Low as Matrixport Signals Altseason

COINOTAG reported on September 13 that market data shows...

HIFI Liquidations Exceed $30.48M Ahead of Binance Delist Sept 17 as Token Surges 945%

COINOTAG reported on September 13, citing Coinglass data that...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img