Bitcoin Holds Strong at $94.9K as On-Chain Metrics Show Widespread Profitability and Institutional Accumulation
By: nulltx|2025/05/06 17:30:01
0
Share
At the moment that Bitcoin is close to the $94,900 high, new on-chain data is giving us a clear view of how investors feel and where they are positioned—helping us to understand the bigger dynamic at play in the crypto market.With more than 83% of current holders in profit and institutional players like MicroStrategy doubling down and even upping their exposure to Bitcoin, this seems to be an uptrend that’s got a lot of fundamental backing—at least as far as our current understanding of the trends and the sentiment is concerned.On-Chain Analysis: The Majority of Bitcoin Holders Are In ProfitThe most recent Global In/Out of the Money analysis shows that an impressive 83.93% of Bitcoin holders are presently in the money. This segment of holders counts a massive 16.69 million BTC among themselves—an amount in excess of a stunning $1.58 trillion when counted as unrealized value. These numbers help illuminate the fact that among Bitcoin holders, long-term holding is a widely shared and deeply rooted occurrence.At the same time, 7.73% of holders, or about 1.54 million BTC worth around $145.79 billion, are at breakeven. These investors bought their coins at around today’s price and seem to be watching carefully for any signs that either a breakout or a pullback is imminent.Bitcoin On-Chain Snapshot at $94,900 – A look at the Global In/Out of the Money shows where BTC holders stand: In Profit:83.93% of holders are in profit, holding 16.69M BTC worth $1.58 trillion. Breakeven:7.73% of holders are at breakeven, with 1.54M BTC valued at... pic.twitter.com/0K2tL7a7lF— Maartunn (@JA_Maartun) May 5, 2025At present, a mere 8.34% of those holding Bitcoin find themselves in an illiquid state. To put it another way, only about 1.66 million BTC (worth $157.41 billion) seem to be submerged. This is a figure that we might call ‘bottomside holders’—holders who, by their BTC’s state, have little incentive to sell. If we could wish ourselves into any condition of dollar value, it would be a wish into this state of being, as, in economic terms, this is a condition of being effectively long with little incentive to get short.MicroStrategy Expands Holdings Amid Institutional MomentumInterest from institutions in Bitcoin is still solid and strong. Once again, MicroStrategy leads the pack. The software intelligence firm, under Executive Chairman Michael Saylor, has now purchased an additional 1,895 BTC for about $180.3 million. They bought at an average price of $95,167—slightly above the current market price—but they are still bulling it up and calling it a good deal. This is what they do. And this is why we call them pros.On May 4, 2025, MicroStrategy held a tremendous total of 555,450 BTC. At present, these holdings are showing a total carrying cost of $38.08 billion, or an average price of $68,550 per coin. Since then, the asset has appreciated significantly and is now trading at around $94,900. Correspondingly, MicroStrategy’s BTC positions are showing some impressive paper gains. The company reported an even more staggering 14.0% year-to-date yield on its BTC holdings as of the same day it reported its carry amounts.MSTR has acquired 1,895 BTC for $180.3 million at $95,167 per bitcoin and has achieved BTC Yield of 14.0% YTD 2025. As of 5/4/2025, it hodl 555,450 BTC acquired for $38.08 billion at $68,550 per bitcoin. https://t.co/c6DpvqMwLY— Wu Blockchain (@WuBlockchain) May 5, 2025The company’s vigorous gathering has frequently been seen as a measure of institutional feeling. Every fresh acquisition broadcasts a message to the marketplace: notwithstanding market fluctuations, there exists a persistent faith in Bitcoin as a cornerstone, long-lasting investment.Spot ETFs Attract Strong Inflows for Third Straight WeekThe positive sentiment is not just with single firms. Wider institutional engagement is reflected in the ongoing success of U.S.-listed spot Bitcoin ETFs. Between April 28 and May 2, spot Bitcoin ETFs saw net inflows of $1.81 billion. This was the third week in a row that the ETFs attracted cash, and it was the week, by a long stretch, in which the most cash came in. The inflow amounts to 4% of the ETFs’ total assets under management.During last week’s trading days (April 28 to May 2), spot Bitcoin ETFs saw a net weekly inflow of $1.81 billion, marking the third consecutive week of positive flows. Spot Ethereum ETFs recorded a net weekly inflow of $106 million, with BlackRock’s ETF ETHA leading the pack with...— Wu Blockchain (@WuBlockchain) May 5, 2025These inflows are very important because they show not just that investors have confidence in the product but that there is direct buying pressure on the underlying asset. When you put money into a Bitcoin ETF, the actual asset is bought by the fund to back your investment. That means it is not available in the circulating supply. Sustained demand for Bitcoin ETFs could create upward pressure on the price of Bitcoin because it is a way for people to buy exposure to Bitcoin without actually buying Bitcoin.Conclusion: Market Foundations Strengthen as Bitcoin Eyes New HighsMore than 83% of BTC holders are in the money, and that institutional accumulation is continuing apace. ETF inflows seem quite healthy. Short-term price action may be somewhat volatile. But taken together, these elements paint a very solid, probably even bullish, picture for Bitcoin. Still, we must remember that a lot of foundation-building activity doesn’t guarantee anything in terms of future price performance.While Bitcoin hovers around the $95,000 mark, attention is shifting to whether it can garner sufficient upward momentum to reach test high-price levels. If it can, and if the number of participants in the Bitcoin network, the number of institutions invested in Bitcoin, and the number of positive economic indicators for Bitcoin remain roughly where they are now, then tests of the $100,000 level and beyond may be imminent.Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
You may also like

The first stock of stablecoins, Circle, has officially launched the new public chain ARC points system, and the interactive guide is here
Arc is an internal project of Circle. Although it has not publicly raised funds, Circle Ventures launched the Arc Builders Fund (amount undisclosed) to attract investments from over 30 top VC networks in ecological projects.

Oil prices are approaching a critical point. What will happen in mid-April?
Time becomes the deciding factor, and the oil market will take three paths.

The oil price is approaching a critical point, what will happen in mid-April?
Time Becomes a Determining Factor as the Oil Market Takes Three Paths

Mechanism drives value, deflation leads the future: MIAU will officially launch on PancakeSwap on April 13
MIAU provides a new value paradigm for the industry with its threefold advantages of "FunPlusWeb3 trendy IP ecosystem + mechanism consensus + relative deflation."

Zhou Hang, the founder of Yidao Yongche: Cryptocurrency has finally arrived at its time to shine
Cryptocurrency has not failed; it has simply targeted the wrong users over the past decade.

Who else cannot be distilled into skill?
Token Hundred Thousand Slaughter Yama

Who else cannot be distilled into skill?
Token Yama of Decimation

The huge shock in the South Korean cryptocurrency market: How should traders view it?
As the contradiction between the institutional capital inflow brought by the new government's "pro-crypto" policy and the tightening of retail infrastructure intensifies, this structural "information asymmetry" in the Korean market will persist for a long time, continuously giving rise to fleeting e...

From "Kimchi Premium" to Bithumb's Rectification: An Interpretation of the Current Situation in the South Korean Crypto Market
Market structure or information gap? — Why does the South Korean crypto market often make global traders "lag behind."

How to Automate Your Workflow with AI (No Code Required)
Let Perplexity Do the Work for You

Conversation with Pantera Founder: Bitcoin Has Reached Escape Velocity, Traditional Assets Are Being Left Behind
BTC still needs 6-8 months to reach its bottom.

Is it still worth buying Circle on the callback?
Can Circle transform from a "stablecoin company that earns interest" into a global digital dollar infrastructure?

BIT Launches Landmark "Same Name Virtual Account" Feature: Ushering in a New Era of OTC Trading that is Convenient, Efficient, and Compliant
This marks a milestone for BIT in optimizing the large-scale fiat onramp channel and enhancing the asset allocation experience for high-net-worth individuals and institutional clients.

Further Oracle Integration Reveals Polymarket's Ambitions
The expansion of the data source is essentially an expansion of the market radius.

CoinGlass: 2026 Q1 Cryptocurrency Market Share Research Report
In the first quarter of 2026, the overall cryptocurrency market remained highly active, but trading volume gradually declined from the January peak.

Tiger Research: Analysis of the Current Situation of Retail Investors in Nine Major Asian Markets
We analyzed the entry barriers of the largest markets for nine potential user groups in Asia, as well as the responses of exchanges.

Forbes: Does quantum technology threaten the encryption industry? But it is more likely an opportunity
Quantum computing will not overturn blockchain, but it will force a reconstruction of its security system.

What Is Auto Earn? How To Claim Extra Free Crypto On Auto Earn 2026
What is Auto Earn and how do you use it? This guide explains how Auto Earn works and how balance increases and referrals may qualify for extra rewards during Auto Earn Boost Fest.
The first stock of stablecoins, Circle, has officially launched the new public chain ARC points system, and the interactive guide is here
Arc is an internal project of Circle. Although it has not publicly raised funds, Circle Ventures launched the Arc Builders Fund (amount undisclosed) to attract investments from over 30 top VC networks in ecological projects.
Oil prices are approaching a critical point. What will happen in mid-April?
Time becomes the deciding factor, and the oil market will take three paths.
The oil price is approaching a critical point, what will happen in mid-April?
Time Becomes a Determining Factor as the Oil Market Takes Three Paths
Mechanism drives value, deflation leads the future: MIAU will officially launch on PancakeSwap on April 13
MIAU provides a new value paradigm for the industry with its threefold advantages of "FunPlusWeb3 trendy IP ecosystem + mechanism consensus + relative deflation."
Zhou Hang, the founder of Yidao Yongche: Cryptocurrency has finally arrived at its time to shine
Cryptocurrency has not failed; it has simply targeted the wrong users over the past decade.
Who else cannot be distilled into skill?
Token Hundred Thousand Slaughter Yama
