- In July, the largest cryptocurrency Bitcoin (BTC) regained the $30,000 price level.
- According to Glassnode data, the Bitcoin Shrimp Investor Group (addresses holding less than 1 BTC) has been rapidly progressing.
- Bitcoin’s rise to $30,000 helped many investors make a profit after a long time.
Bitcoin price is recovering rapidly. The monthly BTC accumulation of shrimp investors in Bitcoin has exceeded 33,000; This movement was one of the biggest moves made by Bitcoin shrimps!
Bitcoin Shrimps are Accumulating BTC
In July, the largest cryptocurrency Bitcoin (BTC) regained the $30,000 price level. On-chain data shows that this increase in Bitcoin price is not only due to the accumulation of whales but also the equal participation of BTC shrimp investors.
According to Glassnode data, the Bitcoin Shrimp Investor Group (addresses holding less than 1 BTC) has been rapidly progressing. Shrimp investors accumulated more than 33,400 Bitcoin monthly. It was stated that this accumulation was one of the biggest moves made by shrimp investors. However, this move allowed shrimp investors to have a total of 1.33 million Bitcoin.
On-chain data paints a positive outlook for Bitcoin and the crypto market. It emphasizes the profit realization rate (%79) of the current circulating Bitcoin. Bitcoin’s rise to $30,000 helped many investors make a profit after a long time. However, the profit indicator plays an important role in determining the position of investors in the market.
Is This a Bull Run Signal?
Glassnode reported that Bitcoin’s realized capitalization has consistently occupied a net capital inflow regime reaching $396 billion. This indicates that a significant amount has entered the asset class to increase its value. Meanwhile, Glassnode, an on-chain tracker, has kept the expansion size independent of the bull market relationship.
In the last 30 days, the price of Bitcoin has increased by more than 13%. The BTC price has gained over 84% since the beginning of the year. Bitcoin is currently trading at an average price of $30,990. The 24-hour trading volume increased by 65% to reach $12.7 billion.
