FOMO

<ul>
 <li>There has been a growth in new demand for BTC in the last two weeks.</li>
 <li>Price volatility has started to decline.</li>
</ul>
The past ten days have witnessed a remarkable surge in the number of addresses holding <a href="https://ambcrypto.com/search/BTC" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a>.&nbsp;
In a post on X (formerly Twitter), on-chain data provider Santiment noted that the total number of addresses with non-zero BTC balances has now surpassed 910 million, having grown by 2% in the last two weeks.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a>'s amount of wallets holding &gt;0 coins is up to 916.75M, which is a +1.8% increase in just a 10 day span. Other top cap assets, including <a href="https://twitter.com/hashtag/stablecoins?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#stablecoins</a> like <a href="https://twitter.com/hashtag/Tether?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Tether</a> and <a href="https://twitter.com/hashtag/USDCoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#USDCoin</a>, are also seeing an increased rate of growth as a result of this
 (Cont) <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/gmi52Jijsf" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/gmi52Jijsf</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1738282574844432530?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 22, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
According to the data provider, the total amount of BTC holders now sits above 50 million, growing by 8% since the market rally began in October.&nbsp;
<div id="attachment_360137" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-06.56.38-23-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-360137" decoding="async" class="wp-image-360137 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-06.56.38-23-Dec-2023.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-06.56.38-23-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-06.56.38-23-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-06.56.38-23-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-06.56.38-23-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-06.56.38-23-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-06.56.38-23-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div>
While the increased demand for BTC&nbsp; in the past ten days by addresses that previously held no coin might suggest growing mainstream adoption, Santiment warned of the need to remain cautious.&nbsp;
The data provider said,
<blockquote>
 “Though network growth is a great sign long-term, this rapid rate of new wallets is a FOMO sign to be slightly cautious of.”
</blockquote>
This suggests that the new entrants might be paper hands looking to cash in quick gains on BTC’s current rally.
<h4>BTC in the last week</h4>
Trading at $43,595 at press time, BTC’s price has grown by almost 5% in the last week, according to data from <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a>.
In addition to the surge in new demand for the leading coin, the BTC market has recorded a widespread uptick in the total number of unique active addresses involved in BTC transactions in the past week.&nbsp;
According to data from <a href="https://cryptoquant.com/asset/btc/chart/addresses/active-addresses?window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CryptoQuant</a>, as of 22nd December, BTC recorded a daily active address count of 1.23 million. In the past seven days, this has increased by 10%.&nbsp;
<div id="attachment_360138" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-Active-Addresses.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-360138" decoding="async" class="wp-image-360138 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-Active-Addresses.png" alt="" width="2560" height="1612" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-Active-Addresses.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-Active-Addresses-300x189.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-Active-Addresses-1024x645.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-Active-Addresses-768x484.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-Active-Addresses-1536x967.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-Active-Addresses-2048x1290.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: CryptoQuant
</div>
On the same day, the coin’s price rallied above the $44,000 price mark. The last time BTC traded at this price level was 5th December. Due to the price surge, there was a minor uptick in the amount of BTC sent to exchanges on that day.
As some traders sold their coins to benefit from the rally, BTC’s exchange reserve climbed by 0.01%. At press time, 2.02 million BTC were held in crypto exchanges.&nbsp;
Interestingly, despite the recent price surge and attendant coin distribution, volatility in the BTC market continues to decline.&nbsp;
Readings from the coin’s Bollinger Bands (BB) revealed a narrowing gap between the upper and lower bands of the indicator. When a coin’s BB indicator narrows in this manner, it indicates that volatility is decreasing
Likewise, the coin’s Average True Range (ATR) which measures market volatility by calculating the average range between high and low prices over a specified number of periods – has fallen by 9% in the last week.
<div id="attachment_360139" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-23_06-59-12.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-360139" decoding="async" class="wp-image-360139 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-23_06-59-12.png" alt="" width="2346" height="1302" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-23_06-59-12.png 2346w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-23_06-59-12-300x166.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-23_06-59-12-1024x568.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-23_06-59-12-768x426.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-23_06-59-12-1536x852.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-23_06-59-12-2048x1137.png 2048w" sizes="(max-width: 2346px) 100vw, 2346px"></a>
 Source: BTC/USDT on TradingView
</div>

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