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<p>The global capitalization has surged by roughly $27 billion in less than 24 hours as bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) rallied above $28,000.</p>
<p>The largest cryptocurrency by market cap, BTC, has been consolidating between $26,700 and $27,100 since May 11. However, with the recent global hike, the coin is now up 3% in the past 24 hours.</p>
<figure class="wp-block-image size-full"><img width="1011" height="602" src="https://crypto.news/app/uploads/2023/05/BTC-price-May-29.png" alt="Bitcoin’s price surges past $28k as non-zero BTC addresses reach 5-year high - 1">
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  BTC price – May 29 | Source: Trading View
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<p>When writing on May 29, bitcoin is trading at around $28,025. Its 24-hour trading volume is up 65%, surpassing the $16 billion mark, pushing BTC’s market capitalization above $543 billion.</p>
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<p>According to <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener noreferrer">data</a> provided by CoinMarketCap (CMC), the rise in bitcoin’s price comes as the global crypto market capitalization grew by 2.35% in the past 24 hours, reaching $1.162 trillion.</p>
<p>The surge in prices coincides with news Glassnode data revealing that the number of non-zero <a href="https://crypto.news/dubai-deepens-crypto-ties-with-proposed-bitcoin-tower-hotel/" rel="noopener noreferrer nofollow">Bitcoin</a> addresses is at a new all-time high (ATH) of 47,220,463. The number of wallets holding <a href="https://crypto.news/stably-usd-stablecoin-enters-bitcoins-on-chain-economy/" rel="noopener noreferrer nofollow">BTC</a> slightly dropped in late April but has been constantly growing despite suppressed prices.</p>
<figure class="wp-block-image size-full"><img loading="lazy" width="742" height="767" src="https://crypto.news/app/uploads/2023/05/BTC-non-zero-addresses.png" alt="Bitcoin’s price surges past $28k as non-zero BTC addresses reach 5-year high - 2">
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  Non-zero Bitcoin addresses – May 29 | Source: <a href="https://twitter.com/glassnodealerts/status/1663036261467136001?t=kJA5ZrcvExYl5zpjibvFwQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Glassnode’s Twitter</a>
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<p>On the other hand, GlassNode data shows that the total number of BTC assumed to be lost or held in dormant addresses stood at 7,725,079 bitcoins, marking a five-year high.</p>
<figure class="wp-block-image size-full"><img loading="lazy" width="742" height="790" src="https://crypto.news/app/uploads/2023/05/Bitcoins-lost-or-HODLed.png" alt="Bitcoin’s price surges past $28k as non-zero BTC addresses reach 5-year high - 3">
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  BTC lost or HODLed – May 29 | Source: <a href="https://twitter.com/glassnodealerts/status/1663036266307280896?t=L4e7XXxbBSXOnQ-RwKSW1w&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Glassnode’s Twitter</a>
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<div class="cn-block-related-link"><span> Read more: </span> <a href="https://crypto.news/charles-hoskinson-bitcoin-ordinals-could-look-better-on-cardano/" rel="noopener noreferrer nofollow"> Charles Hoskinson: Bitcoin Ordinals ‘could look better’ on Cardano </a>
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Bitcoin’s price surges past $28k as non-zero BTC addresses reach 5-year high

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