Sure thing! Let’s dive in:
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Hey, so Glassnode’s been poking around Bitcoin data again, and guess what? Investors are raking in profits! Like, 17% above the usual. Crazy stuff, right?
### Bitcoin’s Profit Game: Off the Charts!
In this wild report, we’re digging into what’s called “Realized Profit.” Sounds fancy, huh? It’s basically the Bitcoin folks getting their cash through selling their coins when the price is just right.
So, here’s how it works: every coin that’s moved or sold? Yeah, Glassnode checks what it used to be worth versus now. If it was cheaper before and more now, boom – that’s profit! They tally it up like they’re the math whizzes of the crypto world. There’s another thing called Realized Loss for when things go… less profitably.
Now, the graphs they shared? Visual proof of this spike. Seems like more peeps are thinking, “Hey, time to cash in!” Recently hit $139 million an hour which is way above the usual $120 million. Sure, it’s not at the insane highs of past bull runs, but compared to the recent meh months, it’s worth a glance.
Glassnode’s like, “If Bitcoin can handle this without stumbling, we’re golden!” But if it can’t, it might just be another flop in disguise. Yikes, nobody wants that.
Who’s pocketing all this dough? Mostly the short-term holders, you know, those who’ve only had their BTC for less than 155 days. Newbies cashing out, perhaps?
The Spent Output Profit Ratio (SOPR) is another fancy term tossed around. The graph shows it sticking above 1.0 which means these investors are seeing more green than red.
### BTC on the Move
Bitcoin’s dancing around at $94,600, up by almost 12% this week. Not too shabby, huh?
So, there you have it. A bit chaotic, a bit messy – like a rollercoaster but in Bitcoin news. Until next time, keep those digital wallets close.
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How’s that for a wild ride?
