Bitcoin Sees Increased Wallet Growth Despite Ongoing Market Volatility
Bitcoin is currently experiencing high volatility, with significant realized losses affecting many investors. Despite this downturn, short-term holders (STHs) are accumulating Bitcoin, suggesting potential for recovery. Key points include:
- Over 50,000 new wallets have been created in the past month, indicating growing belief in Bitcoin's potential.
- Bitcoin's price is testing critical resistance levels that could lead to a breakout towards $100,000.
- If resistance holds, further declines may occur, testing lower support levels.
- The increase in wallets holding smaller amounts shows rising investor participation despite market struggles.
- Short-term holders' commitment is vital for sustaining market optimism and potential bullish momentum.
In summary, while there are risks of further dips, the ongoing growth in wallet numbers and short-term holder activity suggests a possible foundation for Bitcoin's recovery.