According to the on-chain analytics site Glassnode, the number of addresses holding 0.1 or more BTC rose to an all-time high (ATH) of 4,482,496 yesterday, marking a significant milestone for Bitcoin (BTC). This accomplishment demonstrated growing interest in and involvement with cryptocurrencies, which reflected the growing community of Bitcoin owners.
However, earlier today, the number of addresses holding 0.1+ BTC currency established a new record at 4,482,538, narrowly beating the previous record. CoinMarketCap said that the market leader’s value had a modest increase as we entered a new week.
BTC experienced a slight price increase of 0.10% over the previous day, bringing its trading value to $25,874.88. Notably, this brought Bitcoin (BTC) closer to its daily high of $25,978.13 than to its daily low of $25,640.26.
This increase in value was accompanied by a significant increase in its intraday trading volume of over 43%, resulting in a trading volume at press time of about $8,242,773,782. However, there is still possibility for future improvements in BTC’s performance over a longer period of time.
Over the preceding seven days, the price of BTC decreased by 0.45%. Meanwhile, the cryptocurrency had a significant decline of more than 12% over the preceding month as well.
As of press time, BTC’s value, which has been in a consolidation phase for the past two weeks, was trading in the range of $24,695 and $26,915 on the independent value channel. However, BTC’s price movement over the coming several days may cause the market leader to finally break out of this sideways channel.
The $26,915 resistance level could become supportive if buyers intervene to drive up BTC’s price over the course of the next 72 hours. The value of the primary cryptocurrency may then climb on a clear route to reach the next threshold of $30K within the ensuing two weeks.
However, a surge of demand pressure might send BTC‘s value plummeting to below the $24,695 support. The cryptocurrency is therefore vulnerable to plummeting to $21,930 throughout the course of the following week if daily candles close below this level.
In the ensuing 24-48 hours, traders and purchasers should keep an eye on BTC‘s daily RSI indicator because a severe technical flag was about to be raised. If the RSI line crosses below the RSI SMA line, it indicates that sellers are in control of the BTC charts.
