Share of profitable bitcoin addresses fell to its lowest since March 2020

Bitcoin fell in value again on Friday evening immediately after the media reported the resignation of Sam Bankman-Fried from the CEO of FTX. In addition, Reuters reports that the bankruptcy proceedings of this cryptocurrency exchange are launched in the U.S.
BTC plummeted to $16,770 amid the negative news. According to the Glassnode team, the share of profitable bitcoin addresses on the network has dropped to 50%, the lowest level since March 2020.
Analysts note that long-term investors suffered large losses. Now up to 35.4% of the total BTC supply – that’s more than 5.9 million coins – is under the control of hodlers.

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