Bitcoin rate broke through $ 11,000, more than 93% of addresses went into plus
CONTENT

  • Bitcoin sets new annual high at $ 11,432

  • Over 93% of bitcoin holders make a profit

  • On-chain stats indicate further growth

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Bitcoin suddenly stopped being boring and demolished two important resistances in two days. BTC / USD crossed the $ 11,000 mark and set a new annual high at $ 11,432 early Tuesday morning.

Bitcoin is no longer boring and stable

The largest cryptocurrency is in motion. And to the delight of all bulls and holders, this movement turned out to be upward. For the first time in almost a year, BTC / USD crossed the $ 11,000 mark.

For more than two months, Bitcoin has been sitting in a narrow range of $ 9,000 – $ 10,000. In July, it narrowed even more, and volatility reached historic lows. Binance CEO Changpeng Zhao even joked that Bitcoin has become a “stablecoin”.

But this past weekend the market suddenly started moving and everything changed. In four days, the first cryptocurrency has risen in price by almost $ 2,000 and set a new annual maximum at $ 11,432. At the time of this writing, BTC / USD is holding near $ 11,000. Over the course of the day, the coin has added almost 10% in price, and over the week it has grown by 17%.

On-chain statistics are encouraging

According to the analytical portal Intotheblock, at current levels, more than 93% of bitcoin addresses are in the green zone. This means that the coins stored there were purchased at a price lower than the current one. Moreover, over 350 thousand more addresses have a break-even point in the range of $ 11,000 to $ 11,350. As soon as this resistance zone is passed, the way will open to the next local resistance of $ 11,600 and then to $ 12,000.

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The last time Bitcoin was trading at these levels in August 2019.

Source: Intotheblock

During the growth period, the number of large transactions increased from 9,500 to 15,700, and their total amount almost doubled, exceeding 1 million BTC. In addition, the 30-day volatility has more than doubled and peaked in the past month (33.63% versus 15.35% on Saturday, July 25).

Bitcoin rate broke through $ 11,000, more than 93% of addresses went into plus

The number of active bitcoin addresses has exceeded 1 million and continues to grow, which, according to Bloomberg analysts, indicates the continued upward trend.

“In 2019, when this figure surpassed the previous high, Bitcoin began to recover from the depths of the bear market … if the growth in the number of active addresses does not abruptly stop, the cryptocurrency may soon return to the 2019 high of $ 12,734,” – according to a Bloomberg report on cryptocurrency. the market.

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