Bitcoin Addresses Holding 0.01+ Btc Hits A New All-time High Despite General Mood Of Fear In The Crypto Markets

Abstract:

  • The variety of Bitcoin addresses holding 0.01 or extra BTC has hit a brand new all-time excessive of 10.088 million.
  • The brand new milestone is regardless of the Crypto Worry and Greed index hitting an virtually document low of 10, hinting that crypto merchants are cautious in regards to the short-term way forward for digital belongings.
  • Bitcoin is as soon as once more buying and selling beneath the essential $30k resistance stage that might sign additional losses within the month of June.

The variety of Bitcoin addresses holding 0.01 or extra BTC has hit a brand new milestone. In keeping with the staff at Glassnode, the variety of such addresses has hit a brand new all-time excessive of 10.088 million. The Glassnode staff shared their statement on the variety of Bitcoin holders with 0.01 or extra BTC via the next tweet, which features a chart displaying the encouraging development of such buyers.

Crypto Worry and Greed Index Hits an Virtually Document Low of 10.

The variety of Bitcoin holders with 0.01 BTC or extra hitting an all-time excessive comes when the overall temper within the crypto markets is certainly one of worry. This factors to the potential for retail buyers accumulating Bitcoin at present ranges regardless of the general temper of worry within the crypto markets.

On the time of writing, the Crypto worry and greed index is at a price of 10, which is an indicator of maximum worry.

Bitcoin Addresses Holding 0.01+ BTC Hits a New All-time High Despite General Mood of Fear in the Crypto Markets 15
Crypto worry and greed index at a price of ‘Excessive worry.’ Supply, different.me.

Moreover, a price of 10 is the second-lowest worth of the crypto worry and greed index within the final 12 months. Might seventeenth’s worry index was the bottom in the identical interval, at a price of 8, as a result of crypto-wide selloff catalyzed by UST’s depegging occasion.

Bitcoin Addresses Holding 0.01+ BTC Hits a New All-time High Despite General Mood of Fear in the Crypto Markets 16
12-month Crypto worry and greed index. Supply, different.me.

Bitcoin Continues to Battle to Preserve a Stage Above $30k.

With respect to cost motion, Bitcoin is buying and selling beneath the essential $30k resistance stage at its present worth of $29,700. As well as, Bitcoin stays in bear territory, buying and selling beneath the 50-day (white), 100-day (yellow), and 200-day (inexperienced) shifting averages, as seen within the chart beneath.

Bitcoin Addresses Holding 0.01+ BTC Hits a New All-time High Despite General Mood of Fear in the Crypto Markets 17

Additionally, from the chart, it may be noticed that the each day MFI, MACD, and RSI are all hinting at a situation of decreased shopping for of Bitcoin.

Consequently, Bitcoin has a excessive probability of both persevering with its consolidation between $30k and $29k or falling decrease to retest $28k and even the native low of $26,700 skilled in early Might as a result of Terra/UST saga.

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