Bitcoin Bull Run Still in Early Stages Despite 120% Price Jump This Year
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Bitcoin bull market "FOMO" not present yet despite 120% price increase this year, per on-chain data.
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Number of small wallets growing but no major speculator return to the network. Still early days.
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Bitcoin holders who bought near 2021 highs remain underwater but nearing potential breakeven point around $39K.
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11.6% of unspent transaction outputs currently at a loss, suggesting overall profitability.
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Whale entities have been increasing Bitcoin selling at current prices despite bullish momentum.