Bitcoin (BTC) has validated the “Uptober” trend with strong performance, pushing closer to its all-time high of $73,835. According to crypto analytics platform IntoTheBlock, approximately 99% of BTC holders are currently in profit, signaling rising confidence in the market. With the “Moon-vember” rally approaching, the potential for Bitcoin to hit a new peak this month is on the rise.
November’s Bullish History for Bitcoin
November historically marks a period of price surges for Bitcoin. Just as October has earned the nickname “Uptober,” November has been dubbed “Moon-vember” due to the significant gains often recorded across the crypto market, impacting both Bitcoin and various altcoins. With most BTC holders currently in profit, the market atmosphere is optimistic, and Bitcoin bulls appear satisfied with the recent price action.
Nearly All BTC Holders in Profit
Data from IntoTheBlock indicates that almost 99% of BTC holders are in profit—a level last seen in June, though it did not lead to a new peak at the time. Today, however, with increased trading volume and positive market sentiment, the crypto community is hopeful that this time may yield a different outcome. At the time of writing, BTC is trading at $71,276.45, up 3.9% over the past 24 hours, with daily fluctuations between $68,417.88 and $71,540.92. Bitcoin’s market cap stands at approximately $1.41 trillion, with a circulating supply of 19,774,709 BTC and a maximum supply of 21 million.
This uptick in trading activity not only reflects heightened investor interest but also reinforces expectations for a “Moon-vember” rally, potentially leading Bitcoin to a new all-time high. With such strong momentum, analysts are optimistic that BTC may achieve a record-breaking level this month.
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