LATEST: Bitcoin Sees Record Number of Profitable Wallet Addresses Despite Price Dip

Despite Bitcoin’s price remaining 50% below its all-time high, recent data from on-chain analytics firm Glassnode reveals a significant milestone for the cryptocurrency. As of October 30, a record-breaking 39.1 million Bitcoin wallet addresses were in profit, surpassing the previous peak of 38.1 million in November 2021 when BTC was at all-time highs. In percentage terms, profitable addresses are at an 18-month high of 81.1%, up from 60% just two months ago. This surge in profitability has been driven by Bitcoin’s recent price gains, with investors returning to profit-taking as the market passed $34,000.

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