The number of addresses holding at least one Bitcoin (BTC) has reached a new all-time high of 1,013,414 amid growing expectations of a price increase for the leading cryptocurrency.
Notably, the Bitcoin population’s growth can also be seen with another record, as the number of addresses holding at least 0.1 BTC reaches 4,436,238 for the first time in history, as per data from Glassnode on August 8.
Both numbers are correlated, as the number of addresses holding 1.0 BTC also impacts the following metric of addresses with 0.1 BTC or more. Holders with more than $29,000 account for around 25% of the number of investors holding at least $2,900 in the same wallet.
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From a chart perspective, this is the first time that the ‘Number of Addresses Holding BTC’ line crosses the ‘Bitcoin price’ line for both 1 BTC and 0.1 BTC populations.
Bitcoin price analysis
Meanwhile, BTC is, by press time, changing hands at the price of $29,320, registering an increase of 0.99% on the day, having recovered from the most recent drop on August 7 to less than $28,800 per Bitcoin.
This is a price range that has been kept since June 21. With BTC navigating between $28,000 and $32,000 — it creates good opportunities for optimistic investors to accumulate more coins, as shown by Glassnode’s data.
All things considered, the digital asset’s ability to meet these expectations will depend on further developments related to Bitcoin, as well as the general sentiment on the wider crypto and macroeconomic landscape.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
