Given that the market has recently driven up the price of Bitcoin once again to the pivotal $65,000 level, traders and investors are currently seeing huge profits from their positions, especially holders of the crypto asset in the short term.

Short-Term Bitcoin Holders In The Green

A recent report from the world’s leading on-chain and data platform, Glassnode, reveals a significant increase in profit dominance for the short-term holders of Bitcoin. This rise in profit supremacy comes in light of recent positive price movements in  BTC and the general market.

After weeks of volatility and consolidation, the value of BTC has recovered notably, putting a greater proportion of short-term traders in profit. As prices rise, short-term investors are taking advantage of the situation, further driving the upward momentum of the crypto asset.

According to Glassnode, the short-term holders of BTC presently are dominating the market in terms of profits with their Profit/Loss Ratio trading at 1.2. Glassnode highlighted that the metric recently breached a 1 standard deviation above its 90-day mean, suggesting a possible improvement in investors’ mood.

As Bitcoin continues to showcase growth, this development is believed to impact future price movements and the direction of the market as a whole.

While short-term holders are seeing huge profits

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Author: Godspower Owie