The number of major Bitcoin addresses on the network has dropped to a three-month low, according to on-chain data provided by the Glassnode analytics service. The value is currently at September 2021 levels. For details cryptocoin.com keep reading.
Bitcoin whales sell their coins
The number of unique addresses holding 100 or more coins has dropped to October levels. This indicates that the majority of the market is no longer willing to participate in the asset’s countertrade and bear market.
Bitcoin (BTC) Number of Addresses Holding 100+ Coins has dropped to 15,923, a 3-month low. On January 22, 2022, the lowest level of the previous 3 months was 15,931.
While we are currently observing low levels of inflows into Bitcoin, the volume of USDT funds the exchange is currently receiving remains relatively high compared to when Bitcoin was trading close to $60,000. The metric tends to correlate almost exactly with the Bitcoin price, as the number of wallets holding the asset has been tied to its non-positive performance over the past few weeks.
Due to the increasing selling pressure on Bitcoin, the asset unfortunately fell further, causing another long position liquidation. In addition to Bitcoin, major altcoins also fell further, losing 50% of their value. The leading crypto reached the price observed in July, when the first correction since the 2018 decline appeared in the market. At press time, Bitcoin was trading at $36,100 and has lost 14.15% of its value in the past 7 days.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.