Bitcoin (BTC), the world’s largest digital currency by market capitalization, is seeing a relatively bad weekend after losing its major support level at $28,000. At the time of writing, the crypto is trading at a spot price of $27,652.14, down by a marginal 0.11% over the past 24 hours.
While the digital currency appears to have a bearish outlook, a crucial network metric has shown that Bitcoin has the right technical backing to encourage more resilience and longsuffering amongst its HODLers.
According to data from IntoTheBlock, there are currently more holders that are in profit despite the current outlook. Per the data, a total of 30.42 million addresses are in the money, a figure that accounts for 67.22% of all the addresses hosted on the network. This outpaces the 29% of addresses that are in losses and the 3.44% that are currently in the money.
The fact that Bitcoin is largely a profitable digital currency accounts for one of the key reasons why it remains a delight of instit
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