100% of Bitcoin Addresses in Profit: What's Next for BTC's Price?

Bitcoin has reclaimed the $111,000 resistance level and has recorded another impressive milestone, with 100% of all Bitcoin in circulation now "In the Money". The top coin has seen 19,910,000 BTC in circulation hit profitability. The sustained Bitcoin profitability has triggered a bullish wave in the broader digital currency ecosystem, with different altcoins, including Ethereum and Cardano, riding on the wave to chart new price highs.

Bitcoin has reclaimed the $111,000 resistance level and has recorded another impressive milestone, with 100% of all Bitcoin in circulation now "In the Money". The top coin has seen 19,910,000 BTC in circulation hit profitability. The sustained Bitcoin profitability has triggered a bullish wave in the broader digital currency ecosystem, with different altcoins, including Ethereum and Cardano, riding on the wave to chart new price highs.

The recent surge in Bitcoin's price, which reached an all-time high of $112,000, has been driven by various factors. The shift in investor sentiment, viewing Bitcoin as a safe-haven asset like gold, has been a significant driver. Market momentum has been building since Donald Trump's "Liberation Day" announcement on April 2, when the U.S. president unveiled a broad package of tariffs. While global stock markets slumped, Bitcoin began an upward trend, reaching today's prices [1].

The executive order from President Trump to establish a strategic Bitcoin reserve in the U.S. has further legitimized Bitcoin and signaled long-term confidence. This move has reshaped the global risk framework, forcing institutions and governments to act [1]. The fixed supply of Bitcoin, with only 21 million bitcoins ever to exist, has drawn comparisons to gold, further bolstering its claims as a safe-haven asset [1].

Bitcoin's price has surged over 3% in the past 48 hours, reaching near $111,300. This upward movement has led to a test of the upper range of its recent consolidation. The key question now is whether Bitcoin can secure a breakout above this resistance or if bulls will step back, allowing for a short-term correction [5]. Bitcoin has broken out of a two-week ascending triangle, supported by a strong trendline from late June. The breakout above $110,000 was accompanied by a volume spike, pushing the price into the $111,300–$111,600 range [5].

The sustained profitability of Bitcoin has led to a significant increase in unrealized profits. Bitcoin investors are currently holding onto a substantial amount of unrealized profits, with the total value reaching $1.2 trillion. Despite the cryptocurrency's price nearing its historical peak, many investors are opting to hold onto their assets rather than selling, suggesting a prevalent long-term holding strategy within the market [3].

The recent expansion of Bitcoin mining capacity, such as Soluna Holdings' 30 MW expansion at Project Dorothy 2, further underscores the growing interest and investment in the digital asset space [4]. This expansion represents an additional 1,462.03 PH/s of hashrate powered by renewable energy, highlighting the commitment to sustainable blockchain infrastructure.

In conclusion, Bitcoin's record-breaking rally and the increasing profitability of circulating Bitcoin have triggered a bullish wave in the broader digital currency ecosystem. The combination of government recognition, market momentum, and a fixed supply has drawn comparisons to gold, further cementing Bitcoin's status as a safe-haven asset. As the market continues to evolve, investors should closely monitor Bitcoin's price movements and the broader cryptocurrency landscape.

References:
[1] https://uk.finance.yahoo.com/news/bitcoin-price-time-high-behind-123517676.html
[2] https://coinmarketcap.com/community/articles/686f2928f40f825a4ecfffc5/
[3] https://www.ainvest.com/news/bitcoin-investors-hold-1-2-trillion-unrealized-profits-long-term-strategy-2507/
[4] https://www.marketscreener.com/quote/stock/SOLUNA-HOLDINGS-INC-3522074/news/Soluna-Holdings-Inc-Fills-Rack-Capacity-At-Dorothy-2-with-30-MW-Expansion-with-Top-Tier-Bitcoin-Mi-50457457/
[5] https://www.ainvest.com/news/bitcoin-surges-3-111-300-derivatives-inflows-technical-breakout-2507/