Data suggests that Bitcoin [BTC] hodlers are exhibiting strong hands as the post halving bull market continues to rage. Both institutional and retail investment, on-chain, is at an ATH, looking to ‘stack sats.’ Store of Value The velocity of ‘money’ is a measurement of the rate of exchange of the ‘currency’ in the market. High
If price is a misdirection, Bitcoin believers have reason to be bullish if the sharp spike of new addresses in the last 24 hours is a precursor for buy pressure. According to GlassNode, the number of new addresses spiked on the last day, as over 1,000 addresses were created. From the analytic firm’s 3-day moving
Over 12 million BTC has remained unmoved over the past year despite the coin growing over 100% during the period. This is a remarkable feat for Bitcoin (BTC) as HODLers showed strength not to sell through the bullish spike in June to $13,500 USD and through the reversal to current key resistance at $7,900 USD.
As per a feature by LongHash, Bitcoin’s daily active addresses growth has slowed down drastically, implying that less number of Bitcoin users are now engaging in Bitcoin transactions. Overall Trend Upwards But Slow Growth In the data shared by LongHash, it is visible that the growth of Bitcoin’s daily active addresses has been positive overall