Recently, data from Glassnode has garnered the attention of investors in the realm of cryptocurrency. Despite Bitcoin’s price hovering near $26,000, staggering numbers of new Bitcoin addresses have been observed. In the crypto community, this is seen as a bullish divergence from an on-chain perspective.
According to data from Glassnode, an on-chain analytics firm, the number of addresses holding 1+ Bitcoin has also reached its all-time high, with over 1,020,727 such addresses. On September 16, there were around 1,020,704 of these addresses. These data indicate strong investor interest even in the midst of market instability.
Furthermore, a record number of 4.4 million new addresses holding 0.1 Bitcoin or more has been observed, reaching an all-time high. Additionally, the number of non-zero Bitcoin addresses has also reached its all-time high, surpassing 49 million.
Renowned crypto analyst Ali recently posted insights derived from a 3-day chart that indicate potential buy signals as per the TD Sequential indicator. Should Bitcoin’s buying pressure increase, it could drive prices towards the mid or upper levels of the channel, with targets set at approximately $28,000 or $31,000. Meanwhile, the TD risk line is situated at the $24,500 level.
At present, Bitcoin is trading near $26,500 and encountering resistance from the 200 EMA and 50 EMA, respectively. However, this price range holds crucial significance for cryptocurrency investors. Recently, Franklin Templeton filed a Spot Bitcoin ETF application, but this application hasn’t had the same impact on Bitcoin’s price as the Spot ETF applications filed by BlackRock.
Alongside Bitcoin, in an earlier report by Todayq News on August 9, 2023, the number of Ethereum addresses holding any amount of ETH has now exceeded 100 million, reflecting a growth pattern similar to Bitcoin. Even with Ethereum’s price stabilizing at around $1,630, the count of addresses with nonzero balances has been consistently increasing.
