BTC Addresses Holding 0.1+ Coins at ATH: Glassnode Report

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  • Number of BTC addresses with 0.1+ coins is at an all time high.
  • BTC’s price is still trading below the $20,000 level.
  • The price of BTC is being squeezed by the 9 EMA line and a support line on the daily chart.

Earlier today, Glassnode alerts took to Twitter to announce the fact that the number of Bitcoin (BTC) addresses holding 0.1+ coins has reached an all-time high (ATH).

Number of BTC addresses holding 0.1+ coins (Source: Glassnode)

According to the data provided in the Twitter thread, the number of addresses now holding 0.1+ BTC coins stands at 3,799.940. The previous ATH was recorded on 5 September of this year when the number stood at approximately 3,799.813.

The crypto market tracking website, CoinMarketCap, shows that BTC is currently trading at $19,964.90 after a 0.92% increase in price over the last day. Its price also reached a daily high of $20,155.27 over the same time period. The king of crypto is, however, still down more than 2% over the last seven days.

In terms of market cap, Bitcoin still maintains its top spot as the biggest cryptocurrency with its market cap of $382,259,698,474. BTC’s 24-hour trading volume saw a 19.08% increase to now stand at $33,098,902,305.

BTC daily chart (Source: CoinMarketCap)

Looking at the daily chart for BTC/USDT, the price of BTC is resting on a support level that was flipped from resistance back in July of this year. BTC is currently in oversold territory and may break out of the oversold state in the days to come, as can be seen by the RSI line that has crossed above the RSI SMA line and is sloped towards overbought.

Traders and investors need to keep an eye on BTC’s price over the next 2 days as it is currently getting squeezed by both the 9 EMA line and the major support level. This could result in a breakout. However, there is no confirmation as to whether it will be a bullish or bearish breakout.

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