Bitcoin’s price is on the run again, as the asset has jumped past $65,000 for the first time in a month.

This has more than 90% of its holders in profit, which could actually mean danger for the largest cryptocurrency.

Bitcoin is steadily climbing, and with it, the number of holders in profit.

If $BTC breaks $65k, well over 90% of holders will be in profit; a level we last saw in July, when Bitcoin ultimately failed to reach a new high.

The question now is: will this time be different? pic.twitter.com/hs156tGzfy

— IntoTheBlock (@intotheblock) September 26, 2024

IntoTheBlock’s tweet was just minutes ago, but the landscape has already changed. It reads that over 90% of BTC investors would be in profit should the underlying asset’s price break above $65,000.

The cryptocurrency stood at around $64,000 but went on the offensive in the following minutes and surged to $65,260. This has become its highest level since August 2nd and is the third occasion since then when BTC’s price has tapped $65,000.

Nevertheless, reaching such high levels of investors in profit could result in potential price corrections. This is because many tend to offload their assets in such environments when their holdings are in the green.

This is what transpired back in July when the holders in profits reached the same levels of over 90%. In the following months, BTC’s price crashed as many realized profits.

CryptoPotato reported earlier today that the cryptocurrency’s price could be in trouble in the short term due to the massive sell-offs initiated by large investors known as whales. In the span of 24 hours, they offloaded $1.28 billion worth of BTC.

LINK, the native cryptocurrency of the Ethereum-based decentralized blockchain oracle network Chainlink, has witnessed a price breakout fueled by strong on-chain activity and increasing investor confidence.

An analysis by blockchain intelligence platform Santiment revealed that technical indicators for LINK suggest there is a potential for continued price gains and that the asset’s long-term outlook remains positive.

Positive Sentiment Around Chainlink

According to Santiment, the Chainlink community considers the network a pivotal player in the altcoin market due to its decentralized oracle technology. Community members view the project as one that could drive innovation in the blockchain space and bridge the gap between on-chain smart contracts and off-chain data sources. As a result, the social media narrative surrounding LINK’s potential is enthusiastic.

“Whether or not it will fully deliver on these high expectations remains to be seen, but the community’s confidence in the project continues to play a strong role in its ongoing market presence,” Santiment said.

LINK currently ranks 14th on the list of top crypto assets by market cap. Over the past few days, the cryptocurrency has gained 10.2%, driven by increasing accumulation by whales and large investors.

Risks and More Upside Potential

Whale transaction counts for trades worth $100,000, $1 million, and above have been rising, highlighting the interest of high-net-worth individuals and institutional investors in Chainlink. On-chain data shows that holders with massive amounts of LINK have aggressively accumulated the token over the past few weeks.

As of August 15, wallets holding one million or more LINK collectively held 685.5 million of the token. However, their stash had increased to 694 million by the time of writing, indicating an addition of 8.5 million coins within roughly six weeks. Santiment said the growth is one of the fastest jumps in whale coin accumulation in three years.

Additionally, Chainlink has recorded a significant performance against Bitcoin, with LINK outperforming the leading crypto asset by 8.8% during its latest surge.

Interestingly, Chainlink’s short and long-term Market Value to Realized Value ratios are currently in negative territory, indicating that LINK still has more upside potential and that there is still plenty of room for the asset to grow.

However, Santiment warned investors to apply caution as LINK could slide into slightly risky territory while recording short-term average returns.

[PRESS RELEASE – Victoria, Seychelles, September 26th, 2024]

Bitget, the leading crypto exchange and web3 company, hosted its inaugural Blockchain4Her Awards at the SheFi Summit in Singapore on September 17, 2024, with five winners announced across two categories. The event saw over 1,000 participants from around the world, with 100+ nominations received for the Awards. The event was supported by 12 major partners, including tier-1 media BeInCrypto, Crypto.News, The Coin Republic, Input Communications, Genzio, as well as leading community bodies like the Women in Web3 Switzerland.

The Blockchain4Her Awards is an initiative that celebrates and promotes women in the blockchain industry. Launched as part of Bitget’s broader Blockchain4Her program, it addresses the gender disparity in the blockchain space, where female-led startups receive only a small fraction of total funding. The awards feature two main categories – the Rising Female in Blockchain Award and the Innovative Web3 Female Entrepreneur Award.

​​Gracy Chen, CEO at Bitget, delivered a keynote at the SheFi summit where she exclaimed Bitget’s commitment to supporting women in blockchain. With the $10 Blockchain4Her initiative, Bitget is taking steps towards empowerment by providing “role models, mentorship, networking, and targeted support, we’re ensuring that more women can step into leadership roles in the blockchain space,” said Chen.

Bitget announced three winners for the ‘Rising Female in Blockchain Award’ category – Alexandra Nicorici, Gesa Schneider, and Rebecca Matsumura.

Alexandra Nicorici is the founder and host of the OOO podcast, a popular Web3 marketing podcast that connects marketing professionals to leading founders who are building transformative communities and products in the industry.

“Two years ago, if someone had told me I would receive a Rising Woman in Web3 Award, I wouldn’t have believed them. I was struggling a lot, in an industry that is not only a boys club, but not very mature yet,“ said Alexandra. “Today, I am more proud of myself and all the amazing women in Web3 who are rising, being present and contributing to this amazing industry.” Through her influence, Alexandra has helped several Web3 and crypto startups grow and drive valuable partnerships over the years.

Gesa Schneider is a renowned Devcon Scholar at the Ethereum Foundation and an active advocate at The Female Factor – one of the largest global communities for female leaders. “To be recognized as a Rising Female in Blockchain is such a great honor,” said Gesa during the Blockchain4Her Awards. “It validates my work to pioneer Web3 innovations for a sustainable future.”

The third winner is Rebecca Matsumura, an Associate Attorney at Fenwick & West. For almost a decade, Rebecca has provided legal guidance to blockchain and fintech firms, helping them manage compliance in the complex regulatory landscape. She is pioneering a new generation of women in law who want to step into the dynamic legal space of Web3 and crypto. Through this award, Bitget celebrates her transformative contribution to increasing inclusivity and openness in this niche sector.

The award for Innovative Web3 Female Entrepreneur went to Maika Isogawa, the co-founder and CEO of Webacy – one of the fastest-growing blockchain security suites. Tech and security have been historically quite underrepresented sectors for women, and the gap is more concerning in the Web3 industry. However, leaders like Maika have been actively inspiring change in this sector. Maika was also listed among the Forbes 30 under 30.

The winners were decided by a panel of four judges, including the CEO of Bitget Gracy Chen, the co-founder of Hacken Yevheniia Broshevan, leading venture capitalist Tess Hau, and the founder of SheFi Maggie Love Wu.

The awards are supported by a $10 million commitment from Bitget to promote diversity and inclusivity in the sector. The support loop for Blockchain4Her focuses on Elevating, Empowering, Educating, and Embracing women in blockchain. Bitget aims to ensure that women in Web3 have the appropriate resources, opportunities, and representation needed to succeed in their role.

The Blockchain4Her campaign provided scholarships for educational programs like SheFi’s 8-week blockchain course, mentorship opportunities, and participation in major industry events. The overall aim is to build a gender-diverse ecosystem where women play a significant role in driving technological advancements and leadership in blockchain​. As a part of the campaign, Bitget is also establishing an alumni group, where female entrepreneurs and leaders can exchange ideas and build networks to grow their careers.

After the success of the campaign at SheFi, Bitget is set to host various Blockchain4Her events in different regions.

Event highlights

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

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