53% of holders of Bitcoin are in profit at the current price. This is according to data from IntoTheBlock. BTC is currently trading at $30,276.95, down by 1.27% in the past 24 hours.
At that price, more than half (53%) of the addresses are already in profit, considering when they bought their coins. These comprise 24.24 million addresses or 52.73% of all BTC wallets.
Out of Money
The same data shows that 44% are still at a loss because they bought the asset at a price higher than the current price, while 4% of holders are at the break even level.
Those that are out of the money (in losses) are 20.12 million addresses. They make up 47.36% of the addresses.
Bitcoin holders at the breakeven level are 1.61 million addresses or 3.51% of the total addresses.
The data also shows that between $25,751.93 and $34,920.13, 45.85% of Bitcoin holders would be in profit. These are 1.84 million addresses. Within this range, 54.04% of Bitcoin holders would be out of the money or at losses. These are 2.16 million addresses. Those that would be at the breakeven point are 0.12% or 4,780 addresses.
The Bitcoin Whales
At the moment, Bitcoin whales (addresses that hold above 1% of Bitcoin circulating supply) are 11% of all addresses. Active among these whales are 1.19%. These are those that are moving their coins in or out of wallets and have made at least 300 transactions. One whale wallet has made more than 300 transactions in the past 30 days. This wallet holds $7.75 billion worth of BTC.
By June 1, 2022, 27.87 million addresses have held their BTC for more than 1 year without moving their coins. 15.o7 million wallets have held their addresses from 1-12 months, while 3.03 million addresses have held their BTC for less than 30 days. The latter are traders while the first and second groups are Hodlers and cruisers. What sets the hodlers apart is their belief that BTC must be held at all cost irrespective of whether its price goes up or down.