- However, the price corrections did not negatively impact all of BTC’s holders. Over 90% of addresses saw profits.
- BTC capital inflows were still positive but huge in decline, showing too cautious market sentiment and dropping new investment.
- As BTC entered the consolidation, more investor confidence was shown and this was resulting in increased supply from BTC long term holders.
In 2024, market confidence stayed high even as Bitcoin (BTC) went through another correction. Although the price dropped, over 90% of BTC wallet addresses were still showing profits. Only 9.6% of addresses were at a loss, which was quite low compared to previous market crashes.
Historic Wallet Pain and Gain: Bitcoin’s Profit-Loss Journey Since 2012
In 2012, 84.7% of wallets were in the red when BTC was priced around $10. In 2015, 76% were at a loss when the price was near $200. The 2018 bear market saw 56.2% of addresses in the red at $3,000, and in 2020, 59% of holders were losing money when BTC dipped to $10,000.
In 2021, around 29.5% of holders were in loss at $30,000, while in 2022, 49% were at a loss when prices hovered around $20,000. By 2024, however, with Bitcoin now trading above $80,000, only 21.6 percent of wallets were in the red, so the market was still staying afloat.
A chart of profit and loss showing blue lines indicating profit levels which often got close to 100% during price peaks—such as in 2017 at 20, 000 or the current peak in 2021 at 60, 000.
Losses (in red) spiked during price drops, such as during the 2018 crash to $3,000.
Source: X
A chart of profit and loss showing blue lines indicating profit levels which often got close to 100% during price peaks—such as in 2017 at 20 000 or the current peak in 2021 at 60, 000 showed losses spiked during price drops, such as during the 2018 crash to $3,000.
If Bitcoin had stayed above $70,000, the number of profitable wallets likely would have remained high. However, if prices had fallen below $50,000, loss levels could have reached up to 30%.
The long-term price chart was logged, and it be known that it takes much longer to get to the $100,000 mark than some people would like to think. But if prices reversed, a retest of $60,000 was also possible. The market proved resilient in general, but price swings troubled investors.
Capital Inflows Stayed Low Compared to Four Months Ago
From the height of $96,715.57, it fell down to $83,664.35 between 10 December 2024 and 15 April 2025. However, despite this decline, capital inflows stayed positive, and in any event, this may imply that investor confidence generally was still high.
Falling sharply from $134.87 billion to just $3.87 billion, the inflows attest that new investment had slowed. The combined BTC and ETH net position change also dropped significantly, from $115.9 billion to $1.05 billion.
Likewise, stablecoin flows fell from $18.96 billion to $2.81 billion. That meant the market was cautious; no longer did it take in large new investments.
Source: X
Bitcoin moved to point down with lower highs from mid December to early February making it a clear downward pattern. This trend suggested that some investors had been selling off.
If BTC had broken above $90,000, this downward pattern might have been invalidated. Yet a further case for a retreat to the $75,000–$80,000 range was if inflows had remained weak and BTC failed to defend above $83,000. The market’s next move likely depended on whether capital inflows picked up again.
Optimism Rose as Long-Term Holders Increased Their Holdings
Over the last nine days, the supply of Bitcoin held by long-term investors grew by 297,000 BTC, rising from 14.031 million to 14.328 million. This increase showed that experienced investors had renewed confidence in Bitcoin, even though prices had recently corrected from near $100,000.
For example, historically, accumulation officially began when price corrections led to increase in long term holding, prior to a new upward trend. Still, while prices remained between $83,000 and $90,000, the total long-term holdings stayed below the September 2023 peak of 15.8 million BTC, suggesting that full confidence had not yet returned.
Source: X
By October 2023, the prices climbed past $70,000 and long term holders reduced their position as they profit took — likely because of fact that prices are gaining. Nevertheless, once Bitcoin crossed the $85,000-90,000 range, prices carried on and as the chart shows, prices eventually began to flatten and accumulation began to occur again.
If long-term holdings had continued to grow past 14.328 million BTC, Bitcoin might have revisited the $100,000 mark. However, if long-term investors had started selling again and their holdings fell below 14.031 million BTC, the price could have dropped back to $70,000 or lower—showing reduced confidence among committed holders.
