Bitcoin population surges with record numbers of holders of 1 BTC

The number of addresses holding at least one Bitcoin (BTC) has reached a new all-time high of 1,013,414 amid growing expectations of a price increase for the leading cryptocurrency.

Timeline of Bitcoin

BTC/USD Large Stops Below 27991: Sally Ho's Technical Analysis – 9 August 2023 Bitcoin (BTC/USD) awaited fresh technical guidance early in the Asian session as the pair remained unable to sustain moves above the 29500 area and continues to battle with areas of technical resistance. The inability to revisit last month's multi-month high around the 31862 area has resulted in bearish momentum and has seen the pair orbit the 28960 area, representing the 23.6% retracement of the appreciating range from 19568.52 to 31862.21.

According to Bank of America analyst Michael Hartnett, the US government debt is predicted to rise to $50 trillion by 2033. This is the astonishing and ridiculous state our financial system has got into, and the vast majority of US citizens will probably just shrug their shoulders and carry on.

The US Securities and Exchange Commission (SEC) is nearing a critical crossroads concerning ARK's application for a spot Bitcoin Exchange Traded Fund (ETF). With the August 13 deadline on the horizon, the financial world watches closely for the SEC's decisive verdict.

Valkyrie has applied to the US Securities and Exchange Commission (SEC) to add ETH futures contracts to its Valkyrie Bitcoin Strategy ETF (BTF). Valkyrie Makes A Move To Stay Ahead Of The Crowd Valkyrie's application represents a move to stay ahead of the crowd.

With anticipation growing surrounding the likely approval of a full-fledged spot Bitcoin (BTC) Exchange Traded Fund (ETF) in the United States, Ark Invest CEO Cathie Wood has shared her opinion on the probable pattern in which the Securities and Exchange Commission (SEC) will give its approval.

As uncertainty lingers in the market, profit-taking activity has increased. This resulted in a surge in weekly outflows from digital asset investment products last week, with Bitcoin being the "primary focus.

Grayscale recently made some remarks about the 2024 presidential election and Bitcoin's price. The digital assets hedge fund noted the historical Bitcoin market cycle lines up with the US election cycle.

Bitcoin price just formed a golden cross chart pattern over the 200 day window. This has only happened twice before on BTC's chart, and both times preceded bull runs to new all time highs.

Bitcoin (BTC) cancelled its three-day losing streak on Monday by adding half a percentage point to the BTC/USDT pair, hitting the midnight bell at US$29,178. Intraday trades went as low as US$28,650, but a bright start on the Nasdaq Composite lent a bit of support to risk assets.

Investor and podcaster Preston Pysh is predicting that Bitcoin (BTC) will put up 100% gains annually relative to fiat currencies. In a new interview with Scott Melker, Pysh says that Bitcoin will become an obvious store of value and a hedge against an increasing debasement of fiat currencies like the US dollar.