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 <p class="is-style-lead">The Bitcoin (BTC) price has struggled around $26,000 after Elon Musk’s spacecraft manufacturer SpaceX dumped its BTC <a rel="noopener noreferrer nofollow" title="holding" href="https://thebittimes.com/tag/holding.html">holding</a>s.&nbsp;</p> 
 <p>On the other hand, Glassnode data suggests that the number of wallets <a rel="noopener noreferrer nofollow" title="holding" href="https://thebittimes.com/tag/holding.html">holding</a> at least 1 BTC has reached an all-time high (ATH) of 1,015,299 despite the bearish market sentiment.</p> 
 <p>Per the on-chain data provider, the addresses have risen since late 2021, when BTC hit an ATH of $68,790.</p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr"> #Bitcoin $BTC Number of Addresses Holding 1+ Coins just reached an ATH of 1,015,299<br><br>Previous ATH of 1,015,241 was observed on 20 August 2023<br><br>View metric:https://t.co/s7tx1xxyz3 pic.twitter.com/DsYGzzLEhV</p>— glassnode alerts (@glassnodealerts) August 21, 2023 
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 <p>Moreover, BTC short-term traders have also risen with the recent price downturn. According to Glassnode, the amount of BTC supply active between a week and one month just dropped to 680,353.028 BTC, marking a 30-day low.</p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr"> #Bitcoin $BTC Amount of Supply Last Active 1w-1m (1d MA) just reached a 1-month low of 680,353.028 BTC<br><br>View metric:https://t.co/daWGzpwg77 pic.twitter.com/gJ8VYNBGmn</p>— glassnode alerts (@glassnodealerts) August 21, 2023 
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 <p>Short-term holders and traders rose after SpaceX dumped all of its BTC <a rel="noopener noreferrer nofollow" title="holding" href="https://thebittimes.com/tag/holding.html">holding</a>s. Per the crypto.news report, the aerospace company accumulated roughly $373 million worth of Bitcoin in 2021 and 2022.&nbsp;</p> 
 <p>Shortly after the news about SpaceX’s BTC digestion emerged, the number of crypto liquidations surpassed the $1 billion mark. Per the report, 83% of the liquidations belonged to long positions.</p> 
 <p>Furthermore, Bitcoin is still down by 0.3% in the past 24 hours and is trading at $25,990 at the time of writing. BTC’s 24-hour trading volume also plunged by 2.5%, currently at $9.4 billion.</p> 
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  <img decoding="async" width="1136" height="602" src="https://crypto.news/app/uploads/2023/08/BTC-price-Aug-21.png" alt="BTC struggles around $26k as SpaceX drops its holdings - 1" class="wp-image-14186889"> 
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    BTC price – Aug. 21 | Source: Trading View 
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 <p>Bitcoin briefly touched a 24-hour-high of $26,260 on Aug. 20. BTC’s market cap still stands above the $500 billion mark with a 48% market dominance.&nbsp;</p> 
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BTC struggles around $26k as SpaceX drops its holdings

TheBitTimes

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