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According to Glassnode, several on-chain metrics for BTC are hitting record highs. Bitcoin’s non-zero addresses also broke records.
Bitcoin’s non-zero addresses are at an all-time high
Coinmarketcap showed that Bitcoin has increased in price by 0.01% over the past 24 hours.
If the Bitcoin price closes above $29,600 on a daily candle; It may increase to $32,000 in the following week.
Market analysis platform Glassnode Alters shared on Twitter earlier today. According to this tweet, various chain benchmarks for the digital currency market leader, Bitcoin (BTC) reached an all-time high (ATH).
Previous 48,038,925 views on August 12, 2023.
The previous non-zero addresses of ATH 48,038,925 were registered on August 12 of this year. Additionally, according to Glassnod, the last active Bitcoin supply in over 10 years reached an ATH of 2,893,573,026 BTC. The previous ATH was 2,893,571,087 BTC. It was also registered on August 12, 2023.
#Bitcoin $BTC supply amount last active > 10 years recently reached ATH 2,893,573.026 BTC.
The previous ATH of 2,893,571.087 BTC was observed on August 12, 2023.
Changes in other indicators
Bitcoin (BTC) non-zero addresses break record
There hasn’t been much movement in the cryptocurrency market by the end of the weekend. But CoinMarketCap showed that Bitcoin has seen a 0.01% increase in its price in the last 24 hours. This led to the digital currency king trading at $29378.59 at the time of publication.
Meanwhile, BTC’s 24-hour trading volume reached $6,181,593,514. which was a +34% decrease compared to the previous day. A slight increase in the price of Bitcoin last day kept its weekly performance in the green zone at +1.20%. On the other hand, Bitcoin is down more than 6% in the last month.
From a technical point of view, the 9, 20 and 50 EMA lines on BTC’s daily chart were at almost identical levels at the time of publication. This indicates that traders and investors are waiting for confirmation of which direction the price of the digital currency will move in the coming week.
If the price of Bitcoin closes above $29,600 on a daily candle, it may rise to $32,000 in the following week. However, if a daily candle closes below the 50-day moving line at around $29,354.22. It will likely drop to $27,000 in the next few days.
