• The total number of Bitcoin holders has grown by over 300,000 since the start of July.
• Bitcoin addresses holding one BTC have increased to an all-time high.
• The number of holders has expanded by approximately 5 million since the start of the year.
Surge in BTC Holders Reflects Resilience in Price Action
The crypto market has been subject to wild price swings, yet despite this volatility, a surge in Bitcoin holders offers a compass for the next support level, indicating resilience and potential stability in the market. Data reveals that the total number of Bitcoin holders has grown by over 300,000 since the start of July, with addresses holding one BTC reaching an all-time high. Furthermore, since January 2021, there have been approximately 5 million new holders joining the Bitcoin community.
Bitcoin Address Count at All-Time High
On 16 July 2021, Glassnode Alerts reported that 1,009,850 addresses held exactly one BTC each – an all-time high count – signifying an accumulation process undeterred by various price fluctuations. As of writing this article, this number had risen further still to 1,009,950. This data suggests that buyers are willing to enter into long positions regardless of current prices and indicates potential stability on a longer time frame.
Holder Growth Accelerated between April and June
A chart from Santiment shows that while holder growth was steady throughout 2021 so far; between April and June it experienced a rapid acceleration as prices hovered around $27k USDT/BTC. At present levels ($30k USDT/BTC), it appears that buyer interest is still strong enough to keep prices buoyant despite minor losses in recent trading sessions.
Analysis: What Does Holder Increase Tell Us?
The increase in both address count and overall holder numbers suggest that investors are buying into Bitcoin regardless of short term price fluctuations; indicating confidence that prices will remain stable or continue rising on a longer timeline even if near term movements may be volatile due to liquidity issues or other factors such as whales moving large positions around exchanges and markets . This could signal a probable support level for those traders looking for entry points into long positions when they anticipate a dip or correction in prices going forward.
The growing investor base could spell good news for those who believe in Bitcoin’s long term prospects; as more people come onboard with their own investments they can help form an interconnected network driving demand for more coins which ultimately means higher prices down the line – provided these investors stick around during bearish periods too! It remains to be seen how much impact this influx will have on future price action but it does indicate potential stability should we see any corrections occur soon after peak values are reached again like we saw before mid-July 2021