Retail Investors Accumulate More Bitcoin at $46,000
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Answer Retail Investors Accumulate More Bitcoin at $46,000
According to the dataIntoTheBlock“Retail and individual investors are accumulating bitcoin.
Bitcoin is currently trading at $46,200 after rebounding from its lows of $45,951.
In CoinMarketCap data, Bitcoin price rose 0.83% in the last 24 hours and fell 2.46% in the last week.
Data from the analytics platform IntoTheBlock, which looked at Bitcoin addresses holding between 0.1 – 1 BTC, indicates a 1.47% increase in their balances in the past 30 days.
IntoTheBlock specifically states that since January lows, the number of bitcoins at addresses under 1 bitcoin has increased by 5.51%.
Entities with 1 Bitcoin or less are considered regular users and are not considered corporations or institutional investors, and are referred to as “hashes.”
Read:After the recent crash in cryptocurrency prices…the “Vauld” trading platform stops withdrawals
These smaller entities significantly expanded their proportion of the total bitcoin supply in 2022, according to data from analytics firm Glassnode.
As we indicated this morning, the Bitcoin Mid-Halving event is expected to occur on April 11th.
Santiment highlighted every point between the splits that the market has already seen, according to which Bitcoin may fall after April 11th until the time for the Bitcoin mining reward split arrives.
Bitcoin flows out of exchanges and Microstrategy buys more Bitcoin:
A massive amount of bitcoin is actively being removed from trading platforms by traders and investors, according to Glassnode’s latest data.
Data indicates that March was the fourth consecutive month that exchanges lost around 100,000 BTC.
Starting at the end of 2021, traders and investors were actively moving away from the trading platforms as confidence in the central trading platforms dropped drastically and the market slowly entered the accumulation phase.
MicroStrategy has acquired more bitcoin, according to a regulatory filing released on April 5.
The total number of bitcoins currently owned by MicroStrategy is 129,218 (nearly $6 billion).
Read:Stay tuned for more volatility in the cryptocurrency market…Learn why!
Read also:
MicroStrategy buys $190 million worth of Bitcoin at $45,714
The Bitcoin “Mid-Halving” event is approaching…Here’s what to expect
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