- Dropping to $29,944, bitcoin’s price went below the $30k support.
- A growing number of institutions and individuals are putting money into bitcoin.
There are now 836,922 addresses with at least one Bitcoin, according to Glassnode’s statistics. The numbers have risen dramatically due to the skyrocketing adoption and worldwide acceptability. A growing number of institutions and individuals are putting money into bitcoin and other cryptocurrencies. They certainly want to buy the dip, but the fear of further downfall and rising inflation is causing confusion among investors. At the macro level, the retail investors who own at least 0.01 bitcoin have reached an all-time high, reaching 9,989,557 as per data from Glassnode.
Dropping to $29,944, bitcoin’s price went below the $30k support; the markets showed no compassion. However, it has made some progress and is now trading around $31,460. Unfortunately, the whole market has been pulled down by Bitcoin, which is now trading in the red with almost all other cryptocurrencies.
As the price of bitcoin has fallen significantly, the whole crypto industry, particularly those who own it, has been under tremendous stress. The network’s profitability as a whole dropped by more than ten percent. Federal interest rate rises have been a major factor in the market’s excessive volatility and decline. When the news was first made, the markets experienced a brief upswing, but they quickly flipped and fell precipitously.
BTC’s price has fallen by 54% from its all-time high, as it has been unable to hold a support level. Trading volumes, derivative markets, and stablecoins have shown a more volatility fluctuation in the market. This month has seen a decrease in the BTC accumulation rate as the market has been sluggish. According to data, modest investors are the most successful investors. In contrast to the months of February and March, however, they are displaying a lesser buildup.