2024

Bitcoin

April

The number of new Bitcoin (BTC) addresses surged to 352,124 recently, marking a significant uptick and the highest level observed since April indicating a return of retail investors to cryptocurrency despite ongoing price fluctuations.
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 Retail <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> investors are making a comeback! The number of new <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> addresses on the network surged to 352,124, marking the highest level since April. <a href="https://t.co/GFOHnsokz0" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/GFOHnsokz0</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1807047870295556173?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 29, 2024</a>
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Retail interest in Bitcoin has intensified despite the cryptocurrency’s struggle to maintain support above $61,000. It also shows an increasing number of bulls since many investors are buying coins at the current low prices.
The current number of BTC retail addresses has recently gone up implying that investors are regaining their trust. At the time of writing Bitcoin was trading at<a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow"> $60,847.16</a> an increase of 1.02% in 24 hours. Despite opinions from analysts like Mike McGlone <a href="https://x.com/mikemcglone11/status/1807022156041146432" target="_blank" rel="noopener noreferrer nofollow">cautioning</a> against potential risks of normalization and deflation, retail investors appear undeterred in their bullish outlook.
According to <a href="https://studio.glassnode.com/metrics?a=BTC&amp;category=Addresses&amp;chartStyle=column&amp;m=addresses.Min1Count" target="_blank" rel="noopener noreferrer nofollow">data</a> from Glassnode, the number of addresses holding at least 1 BTC, known as “wholecoiners,” has <a href="https://www.cryptotimes.io/2024/06/28/bitcoin-wholecoiners-above-1m-for-13-consecutive-months/" rel="noopener noreferrer nofollow">exceeded 1 million</a> since May 2023, indicative of sustained long-term interest despite market fluctuations.
Out of the 19.7 million Bitcoins currently in existence, approximately 2.48 million are held by major centralized exchanges like Binance and Coinbase, highlighting substantial institutional involvement in the market. Additionally, an estimated 3 million Bitcoins are considered permanently lost or stolen, contributing to the scarcity narrative driving Bitcoin’s valuation.
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 Also read: <a href="https://www.cryptotimes.io/2024/06/30/michael-dell-btc-poll-spark-buzz-amidst-crypto-enthusiasts/" rel="noopener noreferrer nofollow">Michael Dell BTC Poll Spark Buzz Amidst Crypto Enthusiasts</a>
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BTC Interest Surges with 352K Addresses Amid Volatility

The Crypto Times

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