Bitcoin Holders Owning 1+ BTC Hits a New ATH of 851,921 Despite a Retest of sub-$27k Levels

Key takeaways:

• The fig of Bitcoin addresses holding 1 oregon much BTC has deed a caller all-time precocious of 851,921.
• The caller milestone is contempt Bitcoin’s bearish situation and a dip beneath $27k.
• Short-term, Bitcoin could rebound to $30k.
• However, a bottommost mightiness not beryllium in, and further losses mightiness beryllium incoming for Bitcoin till it retests the 200-week moving mean astatine astir $22k.

The fig of Bitcoin addresses owning 1 oregon much BTC has deed a caller milestone. According to the information shared by the squad astatine Glassnode, the fig of specified addresses has deed a caller all-time precocious of 851,921. The Glassnode squad shared their reflection of Bitcoin investors done the pursuing tweet and accompanying chart.

📈 #Bitcoin $BTC Number of Addresses Holding 1+ Coins conscionable reached an ATH of 851,921

View metric:https://t.co/s7tx1xxyz3 pic.twitter.com/jSoeMrwFTe

— glassnode alerts (@glassnodealerts) June 12, 2022

Bitcoin Dips Below $27k, Hitting a Low of $26,890 and a Possible Short-term Double Bottom with May’s $26,700.

The fig of Bitcoin holders with 1+ BTC hitting a caller all-time precocious comes amid an ongoing pullback that has seen the King of Crypto deed a section debased of $26,890 lone moments ago. This, successful turn, translates to the imaginable accumulation of Bitcoin during the ongoing carnivore market.

Further looking astatine the regular BTC/USDT beneath reveals that Bitcoin mightiness person printed a doubled bottommost with the $26,700 acceptable successful aboriginal May owed to UST’s collapse and LUNA’s meltdown successful the crypto markets.

Also, from the chart, it tin beryllium observed that the regular MFI and RSI are successful oversold territory, hinting astatine a anticipation of the $26,700 terms level providing a important enactment portion into the play adjacent lone hours away.

However, the regular MACD is astir to transverse the awesome enactment successful a bearish mode beneath the baseline, frankincense pointing astatine different anticipation of further losses into the caller week.

Consequently, Bitcoin could travel 2 paths: a retest of the $30k absorption level oregon a driblet to caller lows betwixt $26k and $25k.

Bitcoin’s Bottom Could beryllium Found astatine the 200-Week MA Around $22k.

Zooming retired and observing the play BTC/USDT chart, Bitcoin is intelligibly successful a downtrend and looks acceptable to yet retest the 200-weekly moving mean astir the $22k terms area. The 200-weekly MA has provided a coagulated enactment country during the erstwhile carnivore marketplace successful 2018 and the Coronavirus clang of March 2020, arsenic highlighted successful the play illustration below.

Also, from the chart, it tin beryllium observed that the play MFI, RSI, and MACD hint astatine gradual buying involvement successful Bitcoin connected a macro level. Therefore, Bitcoin whitethorn beryllium near a bottom that could hap sometime successful Q3 oregon Q4 of this year.