Bitcoin Price Rises Above $41,000 Collective Whales

Edusaham.com – The number of non-zero BTC addresses has increased since March 2018 following a strong sell-off in December 2018. This sell-off accelerated in March 2019 at the start of the current bull run. and until now This situation often arises despite price volatility: The world’s largest cryptocurrency by market cap recently surpassed $41,000 after falling as low as $37,000 last weekend. At the time of writing, the Bitcoin price is trading at $39,421.

Bitcoin Price Hits $41,000 From Weekend Low of 37K

The $41,000 breakout momentum came as the major equity markets In Asia, it opened at the start of trading on Wednesday. And the market awaits the Fed’s decision.

The rally came as major Asian stock markets opened green trading on Wednesday. Easing concerns about infection from US-China clashes as investors await the release of the Fed meeting minutes.

Bitcoin and most other cryptocurrencies trade slightly higher on expectations that the Fed will raise interest rates by 25 basis points. Despite a slight recovery, Bitcoin and most of the wider crypto market remain volatile for the last two years. three weeks ago With geopolitical, economic and regulatory uncertainty likely to remain as large as it has been for years.

In another development, the number of new Bitcoin addresses dropped slightly in April 2021 when BTC reached its highest peak. However, after the decline, BTC continued to rise and hit a new all-time high of 9,663,021 on March 15. Therefore, despite the continuous correction of the market But Interest in BTC Remains at Record High

Addresses holding between 0.01 BTC and 1 BTC have shown a steady increase over the past two years. Although these numbers fell during June/July 2021, they have since regained their positions and climbed to all-time highs. As a result, small accounts seem to be gradually accumulating.

Unlike small accounts since 2017, the medium-sized account has been seen in both addresses with over 10 BTC and over 100 BTC. Although the number in the middle is reduced But the number of addresses with more than 1000 BTC and more than 10,000 BTC has changed dramatically. although not at a record high But both are already rising in 2022.

For addresses above 10,000 BTC, most of the increase occurred in September 2021. In the case of addresses above 1000 BTC, most of the growth occurred in early March 2022.