{"id":328167,"date":"2023-07-17T19:00:54","date_gmt":"2023-07-17T13:30:54","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=328167"},"modified":"2023-07-17T14:48:28","modified_gmt":"2023-07-17T09:18:28","slug":"bitcoin-a-surge-in-btc-holders-says-this-about-its-price-action","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoin-a-surge-in-btc-holders-says-this-about-its-price-action\/","title":{"rendered":"Bitcoin: A surge in BTC holders says this about its price action"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Addresses holding one BTC have increased to an all-time high.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">The total number of BTC holders has grown by over 300,000 since the start of July.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Fresh data revealed a fascinating trend: despite Bitcoin&#8217;s price fluctuations, the number of Bitcoin holdings has experienced a surge. Although the overall quantity of holdings might appear modest at first glance, it potentially serves as a compass indicating the probable location of Bitcoin&#8217;s next support level.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"http:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noopener\">Bitcoin (BTC) Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<h4><b>One Bitcoin addresses increase<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">On 16 July, a noteworthy update from <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1680551756843892736?t=ybpvmoaYPgDc74euLOxQMQ&amp;s=19\" target=\"_blank\" rel=\"noopener\">Glassnode Alerts<\/a> revealed that the count of addresses holding a single <a href=\"http:\/\/ambcrypto.com\/looking-to-grab-bitcoin-ahead-of-the-next-bull-run-you-need-to-read-this\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> had skyrocketed to an all-time high of 1,009,850. This remarkable milestone signaled a clear trend of accumulating Bitcoin across various price ranges, indicating that the accumulation process was persistent and impervious to price fluctuations. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remarkably, the count had now surged even further, standing at an impressive 1,009,950 addresses as of this writing, marking yet another all-time high.<\/span><\/p>\n<figure id=\"attachment_328233\" aria-describedby=\"caption-attachment-328233\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/glassnode-studio_bitcoin-number-of-addresses-with-balance-1.png\"><img decoding=\"async\" class=\"wp-image-328233 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/glassnode-studio_bitcoin-number-of-addresses-with-balance-1.png\" alt=\"Number of addresses holding one Bitcoin\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/glassnode-studio_bitcoin-number-of-addresses-with-balance-1.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/glassnode-studio_bitcoin-number-of-addresses-with-balance-1-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/glassnode-studio_bitcoin-number-of-addresses-with-balance-1-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/glassnode-studio_bitcoin-number-of-addresses-with-balance-1-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/glassnode-studio_bitcoin-number-of-addresses-with-balance-1-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-328233\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<h4><b>Bitcoin holders increase<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">To truly grasp the impact of <a href=\"http:\/\/ambcrypto.com\/bitcoins-transaction-numbers-rebound-but\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> holders and their volumes, examining the overall number of holders was crucial. A Santiment chart illustrated this growth since January, highlighting a significant upward trajectory. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The number of holders has expanded by approximately 5 million since the start of the year, offering a comprehensive perspective. Even more striking was the recent surge, with an additional 300,000 holders joining the Bitcoin community from the beginning of July until now.<\/span><\/p>\n<figure id=\"attachment_328236\" aria-describedby=\"caption-attachment-328236\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/Bitcoin-BTC-09.11.50-17-Jul-2023.png\"><img decoding=\"async\" class=\"wp-image-328236 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/Bitcoin-BTC-09.11.50-17-Jul-2023.png\" alt=\"Total number of BTC holders\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/Bitcoin-BTC-09.11.50-17-Jul-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/Bitcoin-BTC-09.11.50-17-Jul-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/Bitcoin-BTC-09.11.50-17-Jul-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/Bitcoin-BTC-09.11.50-17-Jul-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/Bitcoin-BTC-09.11.50-17-Jul-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/Bitcoin-BTC-09.11.50-17-Jul-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-328236\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">A broader look at the chart showed that the period between April and June witnessed a rapid acceleration in the number of holders. This surge occurred when the price range hovered around $27,000, creating an interesting correlation between price movement and holder growth.<\/span><\/p>\n<h4><b>Possible support level on a daily timeframe<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">As of this writing, <a href=\"http:\/\/ambcrypto.com\/chatgpt-bitcoin-price-prediction-17\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> was trading around $30,300 on a daily timeframe, demonstrating resilience in maintaining this price range. This was despite experiencing minor losses in the previous and ongoing trading sessions, both of which were below 1%. Since Bitcoin entered the $30,000 range around 21 June, it has managed to sustain this level despite occasional setbacks.<\/span><\/p>\n<figure id=\"attachment_328238\" aria-describedby=\"caption-attachment-328238\" style=\"width: 1400px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-328238\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSD_2023-07-17_09-12-32.png\" alt=\"BTC\/USD price trend\" width=\"1400\" height=\"764\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSD_2023-07-17_09-12-32.png 1400w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSD_2023-07-17_09-12-32-300x164.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSD_2023-07-17_09-12-32-1024x559.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/BTCUSD_2023-07-17_09-12-32-768x419.png 768w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><figcaption id=\"caption-attachment-328238\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 BTCs worth today<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">A noteworthy observation was that <a href=\"http:\/\/ambcrypto.com\/has-bitcoin-finally-conquered-30k\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> had been trending above its short Moving Average (yellow line), indicating a potential formation of a new support level. Interestingly, this yellow line has acted as a support range around the $28,000 and $27,000 price ranges.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> It coincided with the period of increased accumulation based on the total number of holders metric provided by Santiment. Moreover, the current trend remained bullish, although no explicit uptrend was identified.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite Bitcoin&#8217;s price volatility, a surge in Bitcoin holders offers a compass for the next support level, indicating resilience and potential stability in the market.<\/p>\n","protected":false},"author":76,"featured_media":328249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-328167","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin: A surge in BTC holders says this about its price action - 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