in this article, Happen[in]crypto Analyzes the behavior of different bitcoin (BTC) wallet sizes to determine who is increasing or decreasing their positions.
BTC address numbers
The total number of non-zero BTC addresses has been on an upward trend since March 2018. The sharp selloff followed the all-time high in December 2017. The rate of growth accelerated significantly after December 2018, when the current bull market was underway. began.
Initially, the number of new addresses decreased slightly in April 2021 when BTC reached a local top. However, the upward movement continued after October 2021.
After another small drop this May, the number of new addresses reached a new all-time high of 42,171,167 on 7 July.
Hence, interest on BTC remains at an all-time high despite the market drop.
The number of addresses with more than 0.01 (red) and 0.1 (green) BTC has been increasing rapidly since early 2021. Despite improvements, there has been no deceleration in the growth of these addresses.
Therefore, it can be said that the short addresses are continuously increasing during this reform.
medium sized addresses
The trend for medium-sized addresses is not as pronounced.
Firstly, the number of addresses holding more than one BTC (red) has increased significantly and is at an all-time high.
However, addresses with more than 10 (blue) and more than 100 (orange) have decreased since the beginning of 2021. While both have started rising since March, they are nowhere near their all-time high.
Therefore, data from the medium-sized addresses shows that while they have been increasing since the start of the correction, the trend has been mostly downward since early 2021.
The readings are interesting for large addresses. While accounts with 1,000 (purple) and more than 10,000 BTC (yellow) fell in early 2021, they have started to rise sharply since March (red circle).
So, while the big addresses began distributing their holdings in early 2021, they have started to pile up at a significant rate since the reforms began.
for bI[in]Latest Bitcoin (BTC) Analysis of Crypto, click here