The number of addresses holding Bitcoin (BTC) has hit a new record, fueled by growing expectations of the leading cryptocurrency’s price increase.
From a graphical perspective, the ‘Number of BTC Addresses Holding’ line for both 1 BTC and 0.1 BTC populations is intersecting with the ‘Bitcoin Price’ line for the first time.
Meanwhile, at the time of writing, BTC is changing hands at a price of $29,590 per Bitcoin and recording a 1.70% increase during the day.
The number of addresses holding at least 1 Bitcoin has reached a new record; Bitcoin price started trading above $29,500.
Number of Addresses Holding at Least 1 Bitcoin Reaches a New High
The number of addresses holding at least one Bitcoin (BTC) has reached a new all-time high of 1,013,414, driven by growing expectations of an increase in the price of the leading cryptocurrency.
Notably, the growth in the Bitcoin population can also be seen with another record, as the number of addresses holding at least 0.1 BTC reached 4,436,238 for the first time on August 8th, according to Glassnode’s data.
Both numbers are related, as the number of addresses holding 1 BTC has an impact on the number of addresses holding 0.1 BTC or more. From a graphical perspective, the ‘Number of BTC Addresses Holding’ line for both 1 BTC and 0.1 BTC populations is intersecting with the ‘Bitcoin Price’ line for the first time.
Current Status of Bitcoin Price
Meanwhile, at the time of writing, BTC is changing hands at a price of $29,590 per Bitcoin and recording a 1.70% increase during the day. Bitcoin is trading at this level for the first time since August 2nd. The lowest level for BTC today was recorded at $29,146.
Bitcoin has continued to trade within the same price range since June 21st. While BTC fluctuates between $28,000 and $32,000, it creates good opportunities for optimistic investors to accumulate more coins.
All in all, the ability of this digital asset to meet these expectations will depend on further developments in Bitcoin and the broader crypto and macroeconomic landscape.
