- According to Glassnode, the number of BTC addresses in loss (7d MA) reached a new 1-month high.
- Meanwhile, the number of BTC addresses with 0.01+ coins and non-zero BTC addresses reached new ATHs.
- BTC was at risk of falling to the next crucial support level at $26,470 in the next week.
According to a Twitter post by the on-chain analytics firm Glassnode earlier today, the number of Bitcoin (BTC) addressed in loss (7d MA) reached a new 1-month high of 14,043,772.351. The post added that the previous 1-month high of 14,041,288.054 was recorded on July 31 of 2023.
It is, however, also worth noting that Glassnode’s data further indicated that the number of BTC addresses holding 0.01+ coins has reached a new all-time high (ATH). The new ATH now stands at 12,221,783.
Additionally, the on-chain data analytics firm also indicated that the number of non-zero BTC addresses has reached a new ATH of 47,923,325. Meanwhile, BTC was one of the top 10 cryptocurrencies that saw its price drop over the past 24 hours of trading.
According to CoinMarketCap, the market leader was worth about $28,933.51 at press time after its price slipped by 1.49% over the past day. This meant that BTC was trading much closer to its daily low of $28,801.28 than its 24-hour high of $29,463.87.
Despite BTC’s latest hiccup, it was still able to strengthen against its competitor, Ethereum (ETH) by about 0.15%. However, BTC’s weekly performance was flipped into the red zone and stood at -0.76% following the 24-hour loss.
BTC was trading slightly above the key support level at $28,500 at press time. If it closes a daily candle below this price point, then it may be at risk of plummeting to $26,470 in the upcoming week. On the other hand, if it rebounds off of this support, then it may look to challenge the psychological $30K resistance in the next few days.
Should the bulls step in and give BTC the support needed during the potential $30K retest, then the market leader may end up flipping the resistance level into support. This could clear a path for it to climb to the next resistance level at $31,095 in the following 48 hours.
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