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Bitcoin at Its Highest Level in Three Months: What Does 3 Million BTC Profit Mean? - Coin Bulletin
Bitcoin (BTC) price reached its highest level in the last 3 months at 97,900 dollars, providing significant financial relief to market participants as approximately 3 million BTC moved into profitable positions.
The flagship of the cryptocurrency market, Bitcoin, has recently caught a strong upward trend. According to Glassnode data, the BTC price has risen to $99,500, the highest level in the last 3 months.
This strong market performance has increased the flow of new capital and liquidity into the Bitcoin ecosystem. At the same time, some investors took advantage of the upward momentum to realize profits. The metric "realized cap" (realized cap), which is a way to measure liquidity changes in the market, reached an all-time high of 889 billion dollars for Bitcoin.
Liquidity increase continues
A 2.1% increase has been observed in the realized value metric showing the net capital flows into the Bitcoin network over the last month. Experts indicate that this situation reflects an increase in confidence in Bitcoin and demonstrates the market's strong stance. The transition of over 3 million BTC into profit has led to a significant improvement in the financial situations of market participants.
The Bitcoin price reaching the level of 97,900 dollars marks a critical turning point in terms of market dynamics as 3 million BTC turning profitable. According to Glassnode data, the transition of such a large amount of Bitcoin into profit has historically been a precursor to significant market movements.
The transition of a large amount of Bitcoin into profit positively affects market psychology and often triggers the feeling of FOMO (fear of missing out). However, historical data shows that such situations are usually followed by a short-term correction and then a stronger upward trend.