TL failure; DR:
- BTC daily active addresses crossed the one million mark for the first time in two months.
- This coincides with a drop in the stock market and the recent jump in BTC to more than $ 50,000.
Bitcoin, the largest cryptocurrency (BTC), appears to be storming the $ 51,000 price level. In recent days, there have been upward indicators for the price of Bitcoin, one of which is the upward balance of exchanges.
It also has a Santiment cryptographic analysis platform Accepted Strong level of activity in the Bitcoin network. The number of daily BTC active addresses has reached its highest level in the last 2 months and is over one million.
Daily BTC addresses increase
According to Santiment, BTC’s daily active addresses exceeded 1.04 million, which is “the first full day of addresses since 1M took over the BTC network on July 3rd.” The increase in active BTC addresses coincides with the recent jump in the price of cryptocurrency to more than $ 50,000.
On Thursday, more than $ 465 million of short positions in the futures market were liquidated after the BTC jumped to $ 50,000. For most experts and analysts, this increase was not surprising, given that the exchange rate is re-accumulating.
All BTC exchanged inventory is reduced
Bitcoin holdings in all centralized exchanges have fallen by about 2.5 million BTC, a trend that is often seen as a sign of aggregation. Last week alone, more than $ 867 million in bitcoin ($ 17,104 BTC) was withdrawn from exchanges, and more than $ 6.3 billion ($ 124,501 BTC) last month.
As of September 1, Coinbase BTC inventory fell to 709,695 BTC, the lowest level since 2017. The decline in bitcoin supply in the exchange reflects new demand from investors, mostly in the pocket.
At the time of writing, Bitcoin was up 1.68% (24 hours) and traded at $ 50,829 on CoinMarketCap.