Bitcoin price prediction as 80% of BTC holders are in profit

the sideways trading trend continues in the cryptocurrency market, data shows that around 80% of all Bitcoin (BTC) holders (specifically holding the unspent amount) are currently in a state of profit, which increases the risk of a sell-off for the flagship decentralized finance (DeFi) asset in the near term.

Specifically, the percentage of Bitcoin unspent transaction outputs (UTXOs) in profit has reached 79.53%, which may suggest a heightened risk of a sell-off, according to the analysis by SimonaD, a member of the cryptocurrency analytics platform CryptoQuant, shared on August 15.