Bitcoin’s price has been hovering around $26,000, but it recently saw a 1.5% increase. This growth occurred even though the price had dropped below $26,000 multiple times in the past week. Bitcoin is currently trading at $26,460 with a market cap of $515 billion and a 24-hour trading volume of $16.4 billion.
Key Points:
1. Whale activity has decreased, suggesting that small investors may be driving the recent increase in price.
2. Bitcoin supply on exchanges has reached a 58-month low, indicating that more investors are moving their Bitcoins to self-custodial wallets.
3. Bitcoin’s reserve risk has dropped to a five-month low, indicating that long-term investors are accumulating more Bitcoins.
4. The number of addresses holding more than 0.1 BTC has reached an all-time high of 4.44 million.
Hot Take:
The recent increase in Bitcoin’s price and the shift towards self-custody by investors suggests a growing confidence in the cryptocurrency. As more small investors enter the market and long-term investors accumulate more Bitcoins, the future looks promising for Bitcoin’s growth and adoption.
By
By
By
By
By