Bitcoin addresses with $1 million are going parabolic amid +$20k BTC

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TL;DR Breakdown: As Bitcoin surges, its addresses have been on the increase since yesterday, per Glassnode. Bitcoin addresses holding at least +1 and +1,000 BTC have reached a new all-time high. Bitcoin (BTC) began making another bullish move yesterday, which saw the price broke the $20,000 resistance – a price level long-awaited by many investors … Read more

TL;DR Breakdown:

  • As Bitcoin surges, its addresses have been on the increase since yesterday, per Glassnode.
  • Bitcoin addresses holding at least +1 and +1,000 BTC have reached a new all-time high.

Bitcoin (BTC) began making another bullish move yesterday, which saw the price broke the $20,000 resistance – a price level long-awaited by many investors and industry players since the third-halving event. Amid the increase in Bitcoin price, on-chain data suggests that there is a strong and growing interest in the leading cryptocurrency. This is evident as addresses holding BTC has been on the rise since yesterday. 

It’s also worth noting that, the coming of the $20,000-priced BTC placed a majority of Bitcoin addresses in profit. 

Bitcoin addresses are rising

According to information shared by Glassnode today, there is a parabolic kind of increase in the number of Bitcoin addresses holding $1 million worth of the cryptocurrency. Following the price of Bitcoin at $23,433 on Coinmarketcap, $1 million equates to 42.6 BTC. Glassnode showed with a chart that BTC addresses holding such as an amount surged by over 150 percent, totaling 66,540 addresses. Indeed, this follows the growth of the cryptocurrency above $20k. 

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“BTC crossing $20k has turned all early miner addresses (50 BTC block rewards, unspent or lost) into millionaire addresses,” Glassnode wrote. Despite the current BTC price range, interest in the cryptocurrency are still going up. Many people are going bullish on the cryptocurrency as there are signs of buys in the market. One evidence is the growing number of BTC held in addresses.

Addresses with +1 and +1k Bitcoin peaks

As Glassnode shared on Twitter, the number of Bitcoin addresses holding at least one Bitcoin reached another all-time high (ATH) of 829,102. Additionally, address holding at least 1,000 BTC (i.e., $23.4 million) surged to a new ATH at 2,294. The increasing number of BTC in these addresses simply suggests that many people are still buying Bitcoin. As such, the crypto is likely to push further if the buying momentum is maintained.

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