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Cryptocurrencies: 12,849
Markets: 946
Marketcap: $ 2.08 T(0.52%)
24h Vol: $ 100.55 B
BTC Dominance: 49.04%

Bitcoin Accumulation at $30,000 Confirmed by On-Chain Data: Key Insights & Analysis

Bitcoin Accumulation at $30,000 Confirmed by On-Chain Data

Key Points:

  • Bitcoin (BTC) at $30,000 is attracting significant interest from buyers, according to on-chain data from Glassnode.
  • A record amount of BTC changed hands near the current spot price, indicating high demand for the cryptocurrency.
  • The Entity-Adjusted URPD metric from Glassnode shows that $30,200 is the price at which the largest number of BTC was created.
  • Old hands are holding onto their BTC, as evidenced by Glassnode’s Hodled or Lost Coins metric, which is heading towards new record highs.
  • Over 7 million BTC, worth around $233 billion, is currently classified as hodled or lost.

Hot Take:

The on-chain data confirms that $30,000 is a significant level of interest for Bitcoin accumulation. With a record amount of BTC changing hands near this price and old hands holding onto their coins, it’s clear that there is strong demand for the cryptocurrency. This suggests that a big move may be on the horizon. HODLers seem confident in the long-term potential of Bitcoin, and this accumulation at $30,000 further solidifies its position as a key price level. Keep an eye on the charts, because the next move could be a big one!

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