The share of profitable bitcoin addresses fell to 70%

by in Cryptocurrency News

BTC

Capitalization of the Bitcoin decreased by another 3% on September 22.

The fall in the value of the cryptocurrency began last Monday. Capital outflow from risky assets provoked a negative trend in the digital asset market.

The sharp weakening of the bitcoin rate is accompanied by a noticeable reduction in the number of profitable addresses. According to IntoTheBlock, as a result of the fall in the price of BTC the day before, the share of successful wallets fell from 82% to 70%.

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Analysts note that approximately 4.4 million addresses bought bitcoin when it was trading in the range from $47 600 to $ 43 450. Moreover, by the end of this week, the share of successful wallets will be much lower than on September 22 since it is unlikely that BTC is going to be able to resume the offensive, experts predict.

The Santiment team notes that as a result of the September market drop, the losses of the largest digital currencies were record-breaking. For example, XRP and ChainLink (LINK) have plunged 36% and 38%, respectively, since September 6.