More Than 90% Bitcoin Holders Earn Profits When BTC Prices Pass Rp1 Billion

More than 90% Bitcoin holders are up a profit as BTC prices pass IDR 1 billion (Photo; Doc. Freepic)

JAKARTA - In recent weeks, the price of Bitcoin has soared again, breaking the figure of US$65,000 (Rp1 billion) for the first time in the past month. This surge has put more than 90% of BTC holders in a profit position. However, this phenomenon could actually be a danger to the world's largest crypto asset.

According to an analysis of IntoTheBlock, more than 90% of Bitcoin investors are currently in the profit zone when the price of BTC exceeded US$65.000 (Rp1 billion). Bitcoin prices were at US$64,000 (Rp985 million) before surging rapidly to reach 65.260 US Dollars (Rp1.004 billion), the highest level since August 2, 2024. This is the third time since August the price of Bitcoin has touched that level.

Although this price spike provides an advantage for the majority of Bitcoin holders, potential price corrections are starting to lurk. Based on previous trends, when most investors made a profit, many of them tended to sell their assets to realize profits. A similar situation occurred last July, when more than 90% of investors were in a profit position, followed by massive sell-offs and falling BTC prices.

According to a report from CryptoPotato, Bitcoin may face problems in the short term due to large sell-offs carried out by heavyweight or whales investors. In the last 24 hours, these large investors are reported to have sold Bitcoin worth US$1.28 billion (Rp19.3 trillion). This massive sell-off could further suppress the price of BTC, especially when many other Bitcoin holders are also taking profits.

On a similar occasion in the past, when the majority of BTC holders are in the profit zone, the market is usually under pressure due to massive sell-offs. Now, with the high level of profit achieved among investors, the question arises whether Bitcoin will again face price corrections in the near future.