Short-Term Bitcoin Traders Increase Holdings by Nearly 5% as Retail Interest Returns: Details

AnalysisShort-Term Bitcoin Traders Increase Holdings by Nearly 5% as...


IntoTheBlock analytics firm reports that retail interest might be returning to the Bitcoin market. According to the on-chain analytics firm, the number of Bitcoin trader addresses holding less than 30 days, or short-term holders, is fast expanding in tandem with Bitcoin’s price rise. It also mentions that this group, which accounts for around 7% of all Bitcoin holders, has raised its balance by nearly 5%.

The number of Bitcoin daily active users also increases in tandem with the growth in short-term holders. Daily active addresses (DAAs) are frequently used as a price leading indicator. The number of DAAs rebounded above 1 million, according to IntoTheBlock, as BTC rose to $45K.

Per Santiment data, whales have begun to make much more massive transactions than ever before. Whales have made more than 13,400 transactions worth greater than $1 million in the last three days, according to the data given. This surge in volume could be linked to the first cryptocurrency’s price behavior.

BTC price action

The overall cryptocurrency market bounced back earlier in the week as investors continued to buy the dips. Bitcoin moved higher to reach $45,426 on March 2 before retreating to around $43K. At the time of publication, Bitcoin was trading at $43,532, down 1.75% in the last 24 hours.

The Crypto Fear and Greed Index examines current sentiments and crunches the numbers to provide a visual scale ranging from 0 to 100. The Crypto Fear and Greed Index has dropped yet again, from neutral just yesterday to “fear” now, as the price has dropped below $43,000.



Learn more

Latest news

Netflix reveals more details about password-sharing crackdown

Netflix on Wednesday laid out plans to crack down on password sharing for accounts on its streaming platform, including setting...

Why the AI stock rally isn’t another meme craze, according to a top investor

The latest stock rally in companies hawking new artificial intelligence (AI) tools could be somewhat justified, one top...

The 5 Layers That Make Up A Millionaire Mindset

Dylan Ogline is serial entrepreneur and author known as a pervader of work and lifestyle optimizations. He is...

XRP Price Analysis for February 8

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It...

Bernard Arnault company demands Kenz Beauty change its name

A small business owner has found herself embroiled in a legal battle with one of the world’s largest...

Carvana stock, heavily shorted, spikes as much as 27%

Carvana's (CVNA) stock was halted for volatility on Wednesday morning as it rose 27% before retreating.Shares of the...

Must read

Netflix reveals more details about password-sharing crackdown

Netflix on Wednesday laid out plans to crack down...

Why the AI stock rally isn’t another meme craze, according to a top investor

The latest stock rally in companies hawking new...

The 5 Layers That Make Up A Millionaire Mindset

Dylan Ogline is serial entrepreneur and author known...

You might also likeRELATED
Recommended to you