Bitcoin Holders Reach New Highs as Demand for BTC Grows
• Bitcoin (BTC) holders are hitting new all-time highs with positive metrics
•The number of addresses holding one or more bitcoins hit an all-time high (ATH) of 979,163
•The number of wallets holding 0.01 BTC has seen a more significant rise with 11,443,277 addresses hold a percent of bitcoin
Bitcoin (BTC) holders are experiencing a surge in their holdings as the flagship cryptocurrency continues to soar in value. According to on-chain data provider Glassnode, the number of addresses holding one or more bitcoins hit an all-time high (ATH) of 979,163. This is a bullish sign for BTC, as it indicates that the number of large and small holders is increasing.
In addition, the number of wallets holding 0.1 coins has also hit an ATH of 4,208,251 — it reached 4,208,076 on Jan. 3. This means that even more investors and traders are entering the BTC market. Moreover, the number of BTC wallets holding 0.01 BTC has seen a more significant rise. Currently, according to Glassnode data, 11,443,277 addresses hold a percent of bitcoin. This is another indicator that more and more people are buying in to BTC.
Despite the surge in the number of BTC holders, the digital gold’s realized cap has dropped to a 16-month low of roughly $380 billion. This may indicate that Bitcoin is currently undervalued. However, the bullish sentiment in the market is still strong and the number of holders is only expected to increase in the coming months.
Overall, the increase in the number of BTC holders is a positive sign for the cryptocurrency market. It shows that more investors and traders are buying in to BTC, which is a sign of confidence in the digital asset. With the increasing number of holders, it is likely that the Bitcoin price will continue to rise in the near future.