Bitcoin Remains Largely Profitable Despite Sideways Price Action, Glassnode Reports

Despite months of sideways BTC price action, Bitcoin remains “largely profitable,” according to new research. In the latest edition of its weekly newsletter, “The Week On-Chain,” published on June 18, analytics firm Glassnode dispelled myths about investors’ unrealized losses. Bitcoin may be trading within a narrow corridor, but the majority of hodlers are not seeing their returns on investment evaporate. Glassnode summarized current BTC price behavior as “establishing equilibrium,” highlighting multiple on-chain metrics that show Bitcoin is in a period of consolidation rather than capitulation. “Sideways price movement tends to manifest as investor boredom and apathy, which appears to be

Source: CryptoIntelligence