In a significant development within the Bitcoin network, the resurgence of retail investors has driven the number of new BTC addresses to a noteworthy milestone, as reported by cryptocurrency analyst Ali Martinez on June 29th.
According to Martinez’s findings, the network has witnessed a surge in new addresses, reaching 352,124, marking its highest level since April.
“Bitcoin retail investors are making a comeback! The number of new $BTC addresses on the network surged to 352,124, marking the highest level since April,” Martinez affirmed.
Martinez also observed that approximately 14,000 Bitcoin tokens were transferred to cryptocurrency exchanges over the past four days, totaling around $851.20 million.
Amid recent sharp declines in the price of the leading cryptocurrency, which dipped into the $60 range, investors seized the opportunity to bolster their portfolios. Highlighting this trend, Martinez noted significant purchases during the dip in Bitcoin’s price.
“Someone took advantage of Bitcoin’s drop! Over 20,200 $BTC, valued at $1.23 billion, were transferred to accumulation addresses,” Martinez detailed.
Looking ahead, Martinez predicted a potential rally for Bitcoin towards the $66,000 mark soon. Despite recent market volatility, the analyst pointed to a technical pattern known as an “Adam and Eve” formation, suggesting a bullish trajectory for Bitcoin.
The latest data showed Bitcoin trading at $60,896.19, reflecting a modest 0.3% increase over the past 24 hours.
Disclaimer: The opinions expressed in this article, including those of the author and individuals mentioned, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in cryptocurrencies carries inherent risks of financial loss.
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