Glassnode reports that the flow of new capital into Bitcoin remains significant. Monthly changes in realized market capitalization and the proportion of "active" capital continue to exceed their peak levels. Despite declining profitability alongside the price correction, overall profitability remains high, with more than 70% of the current supply in profit. Short-term holder profits and realized profit reserves have reached record levels. The recent market correction appears to have been driven mainly by day traders and ETF holders, while new capital continues to flow onto the blockchain, and most holders remain in profit.
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