The number of Bitcoin addresses holding at least one Bitcoin (BTC) has hit an all-time high of 1,013,414, indicating an increasing belief in a forthcoming price surge for the leading cryptocurrency. In a similar vein, the number of addresses holding at least 0.1 BTC has reached 4,436,238 for the first time ever, highlighting the growing population of Bitcoin investors.
These two figures are closely linked, as the number of addresses holding 1.0 BTC has an impact on the metric for addresses with 0.1 BTC or more. Investors with a balance of more than $29,000 make up approximately 25% of the total number of investors holding at least $2,900 in their wallets.
From a visual standpoint, this is a significant development as the ‘Number of Addresses Holding BTC’ line has crossed the ‘Bitcoin price’ line for both the 1 BTC and 0.1 BTC populations.
Moving on to Bitcoin’s price, it currently stands at $29,320, representing a 0.99% increase for the day. This recovery comes after a recent drop on August 7 that saw the price fall below $28,800. Since June 21, Bitcoin has been trading within the range of $28,000 to $32,000, offering favorable opportunities for optimistic investors to accumulate more coins, as evidenced by Glassnode’s data.
Ultimately, whether Bitcoin can fulfill these expectations will depend on developments within the Bitcoin ecosystem and the overall sentiment in the wider crypto and macroeconomic landscape.
Disclaimer: Please note that the content on this site is not intended as investment advice, and investing in cryptocurrencies carries inherent risks. It is important to approach investment with caution, as your capital is at risk.
Analyst comment
Positive news: The number of Bitcoin addresses holding at least one Bitcoin and at least 0.1 BTC has reached all-time highs, indicating increasing belief in a forthcoming price surge. This is significant as it shows a growing population of Bitcoin investors. Bitcoin’s price has also seen a slight increase after a recent drop, providing favorable opportunities for optimistic investors. However, the market’s future will depend on developments within the Bitcoin ecosystem and overall sentiment in the wider crypto and macroeconomic landscape.
