At the time of Glassnode’s report, Bitcoin had gained momentum as its price soared to $97,900, marking the highest level in the past two months. The data shows that more than 3 million BTC are now back in the profit zone, following the price recovery, which provided relief to market participants.
At the time of writing, BTC was trading at $99,700, demonstrating a nearly 4% rise in the past week. Trading volume has also grown sharply alongside price. CoinMarketCap data shows a more than 60% rise in trading volume in the past day, reflecting bullish conviction.
