CandleFocus Bitcoin (BTC) Nears Major Profitability Milestone: Details
2024-09-26
Author: Content Editor
Bitcoin (BTC) reached a high of $65,250, the highest since August, causing the broader crypto market to pay attention. According to on-chain analytics platform IntoTheBlock, if BTC breaks $65,000, over 90% of holders will be in profit, a level last seen in July. This raises the question of whether this time will be different. BTC saw profit-taking in July after failing to break $70,000. At the time of writing, BTC was up 0.92% to $64,536. The Fed's announcement of rate cuts and positive comments from the SEC Chair on Bitcoin have contributed to the bullish sentiment in the market. Traders are also looking for clues on interest rate cuts from Federal Reserve policymakers.
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