According to the on-chain analytics portal Glassnode, it has positions ranging from 0.1 to 10 coins. Bitcoin (BTC) The number of owners has exceeded historical limits and reached new heights.
Glassnode Shares New Records For Bitcoin On Twitter
Thus, the number of wallets holding more than 0.1 BTC reached the limit of 4.07 million, while the number of wallets holding more than 1 but less than 10 BTC reached 952,754.
In addition, well-known Bitcoin analyst Willy Woo claimed that the bottom is near in the Bitcoin market:
“The Bitcoin bottom is approaching within the framework of the Max Pain model.
Historically, BTC price reaches macro cycle bottoms (orange) when 58-61% of coins are at a loss.”
#Bitcoin bottom is getting close under the Max Pain model.
Historically BTC price reaches macro cycle bottoms when 58%-61% of coins are underwater (orange).
Green shading adjusts for the coins locked up inside GBTC Trust. pic.twitter.com/haIcKlQ3M3
— Willy Woo (@woonomic) November 26, 2022
At the time of this writing, the BTC price is trading at approximately $ 16,500.
After falling as a result of the FTX crisis, BTC once again became a weakly volatile asset, as it had been for weeks before this unfortunate event. The dominance index has also dropped to 39.82%, which is a kind of bottom.
In addition, analysis platform Glassnode shared with its followers that the amount of coins that had not moved in BTC for more than 10 years broke a record:
“The number of BTC that was last active 10 years ago has reached an all-time high with 2,551,415,777 BTC.”
However, the analytics platform also Ethereum On the other hand, he informed his followers that the average transaction fee has reached the lowest point of the last 1 month with 12,967 GWEI.
*Not investment advice.
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