Bitcoin is trading sideways - what is happening in the market?

By
Tokeneo
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3 min reading

The current Bitcoin rate is around USD 13,101. For several days now, this cryptocurrency has been moving in a narrow price range between $ 12,800 and $ 13,200 per coin. What is currently happening on the BTC market?

bitcoin price https://www.freepikcompany.com/legal

The most important information:

  • Yesterday's session on the Bitcoin chart closed with a profit of $ 44.05 - or 0.34%
  • The number of addresses with a balance greater than or equal to 1,000 BTC has increased to a record level
  • One user transferred over $ 1.15 billion in Bitcoin with a transaction fee of only $ 3.6

Bitcoin rate - trading in a narrow price range

The BTC exchange rate has been showing little volatility from the last few days. This cryptocurrency fluctuates between $ 12,800 and $ 13,200 - and has gently crossed this limit several times. The current price of Bitcoin is around $ 13,101.

Yesterday's BTC session opened at USD 13,031.20, and closed at USD 13,075.25, which resulted in a slight change.

As for the emotions that currently prevail on the market of the oldest cryptocurrency, it is greed, but its level is much lower than yesterday and the day before yesterday.

chciwość na btcGraph showing the level of greed in the BTC market. Source: alternative.me

New records

As it turns out, the number of addresses with a balance greater than or equal to 1,000 BTC has set a new high. There is also a shift in investor sentiment on the market from short-term to HODLing - long-term investments. Interestingly, more than half of the Bitcoin supply has not been touched for at least a year, and almost 1/3 of BTC coins have not changed their address for the last 3 years or longer.

Recently, the most popular cryptocurrency also saw its largest weekly session close since 2018.

Huge transaction at low cost

One anonymous user transferred 88,857,2449 BTC coins from one address to another, with a transaction fee of only $ 3.6. The value of these Bitcoins was over $ 1.15 billion.


Of course, it was not the largest transfer ever in terms of the amount of BTC transferred. Earlier this year, another user transferred 124,946,622 Bitcoins from one address to another - they accounted for 0.07% of the total supply of this cryptocurrency. At the local exchange rate, however, the amount was slightly lower - it amounted to about $ 1 billion, and the transaction fee reached $ 80.


See also: Is it worth investing in Bitcoin now?

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