A recent snapshot of Bitcoin’s holder landscape reveals intriguing insights. As of August 21, 8.08 million addresses held mere crumbs of BTC, worth less than $1, while a mere 10,130 addresses boasted impressive holdings of over $10 million.
Meanwhile, a staggering 54.07 million addresses held BTC at its current price, with a significant 82.20% of them sitting in the green.
According to @intotheblock as of Wed, Aug 21, 2024, 8.08m addresses held less than $1 worth of $BTC, while 10.13k addresses held over $10m.
A whopping 54.07m addresses hold BTC at its current price of $60,328.96 and 82.20% of them are in the money. https://t.co/MPy17ULVHu pic.twitter.com/YNOQSEJH1T
— champagne mami 💕 (@EkponoAkwaowo) August 22, 2024
Data Reveals Bitcoin’s Critical And Support Areas
IntoTheBlock’s data exposes critical support and resistance zones, pinpointing areas where BTC holders are most active.
The largest support zone, spanning $59,160.76 to $60,973.28, showcases massive accumulation, signaling a robust safety net where buyers may intervene if prices dip. Conversely, the biggest resistance zone, ranging from $64,670.83 to $66,483.35, is marked by significant BTC purchases, warning of potential selling pressure as prices approach this level.
🚨 Understanding Bitcoin's Key Levels: Major Support & Resistance Zones🚨
The @intotheblock data highlights crucial areas where BTC holders are most active, providing valuable insights into potential market movements.
📉 Biggest Support Zone:
Price Range: $59,160.76 -… pic.twitter.com/vSUtZBEOrR
— IT Tech (@IT_Tech_PL) August 22, 2024
These zones are crucial for traders and investors, as they indicate where substantial price reactions may occur based on historical activity. Meanwhile, Bitcoin spot ETFs saw a net inflow of $39.425 million on August 21, with Grayscale’s GBTC experiencing a single-day outflow of $9.8225 million, while Fidelity’s FBTC and Grayscale’s mini ETF BTC saw inflows of $10.6872 million and $14.2002 million, respectively. As the market continues to evolve, understanding these dynamics will be vital for making informed decisions.
On August 21, the total net inflow of Bitcoin spot ETFs was $39.425 million. Grayscale ETF GBTC had a single-day outflow of $9.8225 million, Grayscale mini ETF BTC had an inflow of $14.2002 million, and Fidelity ETF FBTC had an inflow of $10.6872 million. https://t.co/59u0BnEqLG
— Wu Blockchain (@WuBlockchain) August 22, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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