An on-chain report released today shows that the number of addresses holding more than 100 bitcoins has increased by a net 890 since the start of the year.
At current prices, this threshold is worth about $6.46 million. Having that much of a single asset sitting in one address is a decision in itself.
The price has moved in the opposite direction this year. Bitcoin is currently trading at $64,600, down 1.94% over the past 24 hours.
Meanwhile, redemptions from spot funds have yet to stop. Cumulative net outflows since November have exceeded $2 billion, with seven consecutive trading days of outflows.
Put the two trends side by side, and the mood of the money becomes clearer. The money measured day by day is moving out; the money measured year by year is staying put.
Spread over a year, the 890 new addresses amount to fewer than 3 a day on average. The absolute number isn't large, but the direction is unmistakable.
In a year of falling prices, more addresses are willing to exchange cash for private keys.
$BTC #比特币 #OnChainData
At current prices, this threshold is worth about $6.46 million. Having that much of a single asset sitting in one address is a decision in itself.
The price has moved in the opposite direction this year. Bitcoin is currently trading at $64,600, down 1.94% over the past 24 hours.
Meanwhile, redemptions from spot funds have yet to stop. Cumulative net outflows since November have exceeded $2 billion, with seven consecutive trading days of outflows.
Put the two trends side by side, and the mood of the money becomes clearer. The money measured day by day is moving out; the money measured year by year is staying put.
Spread over a year, the 890 new addresses amount to fewer than 3 a day on average. The absolute number isn't large, but the direction is unmistakable.
In a year of falling prices, more addresses are willing to exchange cash for private keys.
$BTC #比特币 #OnChainData
