The post Crypto Market Free Fall: Here’s The State Of Long-Term Bitcoin HODLers ! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The Bitcoin price suffered a steep correction over the past two weeks after the price had a drastic fall from the $48,200 resistance zone. This resulted in an 18.67% loss, the correction pushed Bitcoin’s value to $39,200.
Regardless of such deep losses, the new data from Glassnode, a blockchain analytics firm reveals that up to 75% of Bitcoin addresses are in profit.
Bitcoin Addresses Are In Profit
According to Glassnode’s week-on chain report published on April 11th, Monday, the firm’s analysis claims Bitcoin wallets are in profit and also around 70% to 75% of addresses are experiencing an unrealized profit, which is much higher than the 45% to 50% of addresses during the time of 2018 bear market.
![](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2022/04/crypto-market-free-fall-heres-the-state-of-long-term-bitcoin-hodlers.png)
Looking at the found data, analysts at Glassnode added that the present bear market is nowhere near to the previous one which is considered the worst.
Also, the long-term Bitcoin holders holding Bitcoin for over 155 days, are the least who are likely to be under loss, reveals the report. Hence, as per the reports, more than 67.5% of long-term holders are in the position of unrealized profit whereas the short-term holders, holding Bitcoin for less than 155 days have seen only 7.88% gains.
Bitcoin price had declined below $40,000 in the early hours today, but now it has slightly climbed above $40k and is trading at $40,198 with a decrease of 4.13% over the last 24hrs. This move has placed the currency into a bear market.
A few are speculating that the Bitcoin will head towards $30,000 and a few others believe that BTC price will push towards $50,000. The report also stated that 58% of the volume on the Bitcoin network is in profit dominance, a metric that has been ignored since December 2021.
![](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2022/04/crypto-market-free-fall-heres-the-state-of-long-term-bitcoin-hodlers-1.png)
As per Glassnode bear markets usually look at long periods of transaction volume that make a loss and the present reversal of profit dominance could be a sign that sentiment is shifting with demand towards Bitcoin’s ability to buy the sell-side.
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