Bitcoin Addresses Holding 0.01+ BTC Hits a New All-time High Despite General Mood of Fear in the Crypto Markets

Summary:

• The fig of Bitcoin addresses holding 0.01 oregon much BTC has deed a caller all-time precocious of 10.088 million.
• The caller milestone is contempt the Crypto Fear and Greed scale hitting an astir grounds debased of 10, hinting that crypto traders are cautious astir the short-term aboriginal of integer assets.
• Bitcoin is erstwhile again trading beneath the important $30k absorption level that could awesome further losses successful the period of June.

The fig of Bitcoin addresses holding 0.01 oregon much BTC has deed a caller milestone. According to the squad astatine Glassnode, the fig of specified addresses has deed a caller all-time precocious of 10.088 million. The Glassnode squad shared their reflection connected the fig of Bitcoin holders with 0.01 oregon much BTC done the pursuing tweet, which includes a illustration showing the encouraging maturation of such investors.

📈 #Bitcoin $BTC Number of Addresses Holding 0.01+ Coins conscionable reached an ATH of 10,088,913

Previous ATH of 10,088,419 was observed connected 02 June 2022

View metric:https://t.co/oyguxpaA2y pic.twitter.com/iYQMfLEp56

— glassnode alerts (@glassnodealerts) June 5, 2022

Crypto Fear and Greed Index Hits an Almost Record Low of 10.

The fig of Bitcoin holders with 0.01 BTC oregon much hitting an all-time precocious comes erstwhile the wide temper successful the crypto markets is 1 of fear. This points to the anticipation of retail investors accumulating Bitcoin astatine existent levels contempt the wide temper of fearfulness successful the crypto markets.

At the clip of writing, the Crypto fearfulness and greed scale is astatine a worth of 10, which is an indicator of utmost fear.

Crypto fearfulness and greed scale astatine a worth of ‘Extreme fear.’ Source, alternative.me.

Furthermore, a worth of 10 is the second-lowest worth of the crypto fearfulness and greed scale successful the past 12 months. May 17th’s fearfulness scale was the lowest successful the aforesaid period, astatine a worth of 8, owed to the crypto-wide selloff catalyzed by UST’s depegging event.

12-month Crypto fearfulness and greed index. Source, alternative.me.

Bitcoin Continues to Struggle to Maintain a Level Above $30k.

With respect to terms action, Bitcoin is trading beneath the important $30k absorption level astatine its existent worth of $29,700. In addition, Bitcoin remains successful carnivore territory, trading beneath the 50-day (white), 100-day (yellow), and 200-day (green) moving averages, arsenic seen successful the illustration below.

Also, from the chart, it tin beryllium observed that the regular MFI, MACD, and RSI are each hinting astatine a script of reduced buying of Bitcoin.

Consequently, Bitcoin has a precocious accidental of either continuing its consolidation betwixt $30k and $29k oregon falling little to retest $28k oregon adjacent the section debased of $26,700 experienced successful aboriginal May owed to the Terra/UST saga.