Bitcoin which had kept investors hopeful with its recent performance has brought slight change of market sentiments amid the change in price performance recently. After hovering in the $30,000 range for a while, Bitcoin had slid down into the $29,000 range, putting investors’ profits to slight rest.
According to recent data from Glassnode, an on-chain analytics firm, the number of addresses in profits on a seven day moving average (7d MA) has reached its monthly low values. Data suggests that currently over 33,657,073.821 wallets are in profit, which is a decreasing figure from its values recorded on the past day.
It is worth noting that the asset increasing price performance had pushed a majority number of coins into profits. As reported by Todayq News over 72% of Bitcoin have yielded investors the desired profits especially the short term investors who found a major relief in the realised profits.
Amid the increasing profits, investors had recorded an increasing affinity to hodling which seems to persist in the present times despite the recent notion of losses that came into picture.
According to another set of data published by Glassnode, the number of addresses holding 0.1+ coins have marked an increase touching ATH at 4,430,706. The increasing figures signal an increasing hodling by the small scale investos.
Additionally, the number of addresses holding 1+ coins have marked an increase signaling at an increasing hodling by the retail investors. Reportedly, number of addresses holding 1+ coins just reached an ATH of 1,012,526.
The recent figures marks a fresh increase even from the figures reported on the past day when the wallets were numbered 1,012,426. It is important to note that the investors are placing their bids on the asset despite the recent drop in prices.
While Bitcoin has been remaining largely stable in the current market, the asset’s value took a slight fall from its prices, which fuelled several speculations. Also, the drop crushed hopes of a bullish trail highlighted by analysts if the asset would’ve risen to $31,000 levels.
However, the increasing accumulation marks a positive sign for the asset and the fact that investors are significantly optimistic despite small falls like this. As of writing, Bitcoin is trading at $29,443.50, over a 0.85% decline over the past day and a 3% decline over the past month.