Sentora: About 95% of Bitcoin addresses are in profitable state, and the range of $116,000 to $119,000 may become a resistance

According to PANews on August 7, according to on-chain data analysis of Sentora (formerly IntoTheBlock), Bitcoin's recent volatility has remained at about 20%, showing a long-term downward trend. There are no signs of compression in the short term, and the overall market is in a range oscillation state.

At the same time, the correlation between Bitcoin and traditional financial markets is gradually increasing, especially with the S&P 500, which indicates that Bitcoin's sensitivity to macroeconomic conditions may increase.

In terms of on-chain costs, about 95% of Bitcoin addresses are currently profitable, but it is down from the all-time high of $121,000 in July. Data shows that many holders buy Bitcoin in the range of $116,000 to $119,000 and are in a loss-making state, which may be a significant resistance to future gains.


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