Bitcoin's recent surge has propelled over 83% of the cryptocurrency into profitable territory, a notable shift in value following its trading above $37,000 last week.

Investor behaviour has undergone a distinct transformation during this <a href="https://www.cryptoknowmics.com/news/bitcoin-rally-to-follow-volatile-2023-predicts-arthur-hayes/" target="_blank" rel="noopener">Bitcoin rally</a>. The Accumulation Trend Score, utilizing a 7-day Simple Moving Average for enhanced data clarity, illustrates a robust accumulation pattern not witnessed in earlier 2023 rallies. The dark colours on the chart signify a strong accumulation regime, aligning with a 39% price increase over the past month. Analyzing various wallet sizes reveals a significant uptick in holdings across all investor cohorts since late October, a departure from the net outflows observed in several cohorts throughout much of 2023.

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<h2>Bitcoin's Optimistic Momentum: Anticipation of BTC ETF and 83% Profits Amid Market Resilience</h2>
Key factors contributing to this optimistic outlook include the anticipation of a spot BTC ETF and the overall strong performance of the market. The recent upswing in Bitcoin prices has resulted in 83% of the total circulating supply being held in profit, surpassing the all-time mean of 74%. This figure approaches the higher standard deviation band of 90%, often associated with the early stages of a bull market's "Euphoric phase." Despite market volatility on Tuesday following news of the DOJ's enforcement actions against Binance and Chanpeng Zhao's resignation, Bitcoin has maintained its position above the $37,000 level.

BTC Surges, 83% of Bitcoin Holders Profitable

Recent price spike propels Bitcoin's profitability to over 83%! Explore the implications of this surge in the cryptocurrency market. #Bitcoin #Crypto

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

BTC Surges, 83% of Bitcoin Holders Profitable

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