Bitcoin (BTC) has seen a 5% rally in the last 24 hours, surpassing $72,000 and reducing the number of addresses holding the digital asset at a loss. Data from IntoTheBlock reveals zero BTC addresses are currently at a loss, with the cryptocurrency hovering around $72,600. This development means approximately 99.6% of Bitcoin addresses, comprising 51.82 million wallets, are in profit.

Bitcoin's surge past $72,000 has added over $70 billion to the crypto market. Despite a fall from $68,000 to $64,500 last week, the bulls took over on Friday, pushing BTC past $69,000. Speculation is rife that Bitcoin will surpass its all-time high of $73,700 before the halving event in the next 12 days.

Analysts suggest Bitcoin is in a consolidation phase, navigating sideways between $65,000 and $71,000. This phase allows investors to accumulate the digital asset at an advantageous price and manage risk amid uncertainty. With support levels at $60,000 and $57,000, linked to short-term Bitcoin whales and large wallets, BTC is unlikely to witness any significant corrections but rather short-term upward momentum.