• Bitcoin’s price surpassed $45,000, raising concerns amid imbalanced profit and loss realization trends.
• Traders profited while mining revenue declined.

Bitcoin [BTC] was on an upward trajectory recently as it surpassed the $45,000 barrier. While this may signal optimism for some, there are growing concerns among holders as various market dynamics unfold.

Profits and losses

In the realm of profit-taking, 2023 has seen Bitcoin realizing profits exceeding $90 billion, yet, somewhat alarmingly, realized losses have reached $53 billion.

This stark contrast to 2022, where Bitcoin recorded approximately $200 billion in realized losses, surpassing the realized profit of $106 billion, raises apprehensions about the overall health of BTC’s market.

The significant imbalance between profits and losses could potentially impact Bitcoin negatively, reflecting a scenario where more holders are experiencing losses compared to those enjoying profits. This trend might contribute to a cautious sentiment among investors.

Traders, on the other hand, are capitalizing on BTC’s recent surge. With Bitcoin breaking through the $45,000 mark, a prominent trader has made a noteworthy profit of over $1.47 million, as reported by lookonchain’s data.

This trader’s successful long position initiated on the 14th of May, involving nine strategic trades, boasts a 100% win rate, accumulating a total profit of approximately $3.6 million.

While this showcases profitable opportunities for some, it also highlights the potential for increased market volatility.

With the price of $BTC breaking through $45K, this smart trader currently has a profit of over $1.47M!

This trader started long <

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Author: Himalay Patel

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