Bitcoin Drops Below $40,000 – Long-Term Holders Still Remain in Plus

Bitcoin is in decline again. Today (April 13) the Bitcoin price fell 0.88% to $39,912.36.

Bitcoin negative movement this morning after the Dow Jones fell in a narrow range on Tuesday (April 12) of 87 points after higher CPI numbers. Shares of financial institutions fell ahead of the first quarter earnings report.

  • The Dow Jones Industrial Average fell 87.72 points, or 0.26%, to close at 34,220.36.
  • The S&P 500 was down 15.08 points, or 0.34%, to close at 4,397.45.
  • The NASDAQ fell 40.38 points, or 0.30%, to close at 13,371.57 points.

Movements in the Crypto Market

Three-quarters of bitcoin investors profit even if the BTC price falls below $40,000

On Monday, April 11, the on-chain analytics provider “Glassnode” published by Week-On Chain assessed the number of bitcoin wallets and found that about 70% to 75% of wallets are still “profitable”. That’s up from 45% to 50% during the 2018 bear market.

Long-term Bitcoin holders who hold 155 or more days have the least chance of losing. More than 67.5% of long-term holders still have an unrealized profit, while short-term holders who hold less than 155 days make only 7.88% profit.

Bitcoin has now fallen below the $40,000 mark, hitting a low of almost $39,000 in the last few hours. This brings the crypto landscape back into another decline.

The report also states that 58% of the transaction volume in the largest part of the Bitcoin network remains in the “profit zone”.

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