Bitcoin and Ethereum Reach Record Profit Levels, Attracting Millions of Investors

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Bitcoin and Ethereum: Rising Profits Attract Investors

Despite recent price fluctuations, Bitcoin and Ethereum are recording historical profit levels. With rising profits, the number of investors has also steadily increased.

Historical profit levels for Bitcoin and Ethereum

An analysis of data from Santiment shows that Bitcoin and Ethereum have reached historical profit levels. At the time of writing this article, over 83% of Bitcoin supply and 84% of Ethereum supply were profitable. While this marks a decline from the 89% and 85% at the beginning of the year, the current profit levels for these assets are historical, as such levels were last observed in 2021.

Increasing number of Bitcoin and Ethereum investors

The analysis of Bitcoin and Ethereum investors on Santiment shows parallel growth with the rising supply in profit. From August 2023 to today, the total number of Bitcoin investors has increased by over 4 million. At the time of writing this article, the number of BTC investors was nearly 53 million. Similarly, the total number of Ethereum investors has increased by over 9 million in the same period. Currently, there are nearly 113 million ETH investors.

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Ethereum maintains bull trend while Bitcoin falls out of it

The daily timeframe chart for Ethereum shows recent fluctuations between gains and losses. Nevertheless, the price has held higher levels than in previous months. At the time of writing this article, Ethereum was trading at about $2,500, representing a decline of less than 1%. The Relative Strength Index (RSI), however, indicates a strong bull trend, as the RSI is just below 60.

In contrast, the daily timeframe chart for Bitcoin shows a less favourable recent price development. Bitcoin is trading at about $42,500 at the time of writing this article, representing a decline of less than 1% and putting it into a bear zone. The BTC RSI is below the neutral line, indicating a bearish trend.

Reviewing portfolio performance

Data from CoinMarketCap shows that the current circulating supply of Bitcoin is about 19.6 million, while that of Ethereum is about 120.1 million. It’s important to regularly review the performance of your portfolio to ensure you’re on the right track.

Sources: Santiment, Trading View, CoinMarketCap

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