Bitcoin (BTC) has more wallet addresses in profit than ever before despite BTC price being 50% below all-time highs.

The latest data from on-chain analytics firm Glassnode shows a record number of addresses “in the black.”

$34,000 BTC price returns over 80% of Bitcoin addresses to profit

Bitcoin may be nearing 18-month highs, but its recent gains were already enough to spark significant changes in investor profitability.

Per Glassnode data, the number of addresses in profit as of Oct. 30 was 39.1 million.

This the highest number ever recorded for Bitcoin, and beats the previous peak of 38.1 million seen in November 2021.

At that time, BTC/USD itself traded at all-time highs, and thus 100%…

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