Bitcoin (BTC), the crypto industry\u2019s premier digital currency is maintaining a major consolidation trend today after <\/span>recording<\/span><\/a> a 0.96% growth to $26,534.97. Sustaining this growth in the near term is now hinged on whether or not the latest <\/span>on-chain<\/span><\/a> fundamentals being exhibited can be capitalized on by both market bulls featuring both new and old entrants into the ecosystem.<\/span><\/p>\n According<\/span><\/a> to insights shared by top market analyst, @Ali_Charts, the number of addresses making their way into the Bitcoin network has hit a new All-Time High (ATH). This data was further corroborated by the crypto analytics platform, Glassnode which noted that the actual addresses holding at least 0.1 coins have hit 4,486,752.<\/span><\/p>\n <\/p>\n \ud83d\udcc8 #Bitcoin<\/a> $BTC<\/a> Number of Addresses Holding 0.1+ Coins just reached an ATH of 4,486,752<\/p>\n View metric:https:\/\/t.co\/hZY8dBLpzX<\/a> pic.twitter.com\/NBAd8ARneX<\/a><\/p>\n \u2014 glassnode alerts (@glassnodealerts) September 16, 2023<\/a><\/p>\n <\/p>\n<\/blockquote>\n This figure is highly significant as it further underscores the attractiveness of digital currency in a world where there are numerous cheaper alternative coins and investment assets. The trends set by BlackRock when it joined the application for a spot Bitcoin Exchange Traded Fund (ETF) race have further lent optimism to that has notably fueled the embrace of the coin by the general public.<\/span><\/p>\n Besides this milestone, Analyst Will Clemente of Reflexivity Research has also pointed out that Bitcoin has just <\/span>surpassed<\/span><\/a> American payments giant Visa Inc in terms of total daily transaction volume. This milestone is evident that people are actually using Bitcoin as a layer for transferring monetary value across the board.<\/span><\/p>\n <\/p>\n Per the actual figures shared, only Automated Clearing House (ACH) and the Fedwire payments systems are left for the coin to surge past.<\/span><\/p>\n The price of Bitcoin has been consolidating in no small amount in the past few weeks, a vicious cycle many analysts believe is poised to be broken anytime from now. Notably, Bitcoin has pared off its losses in the past week, inking a 2.47% growth in that time frame but has largely faced the $28,000 price level as its year-long resistance level.<\/span><\/p>\n With these latest milestones and the hype that may trail its <\/span>forthcoming halving<\/span><\/a>, Bitcoin may record a more ambitious growth run in the short term to surpass its monthly high above $27,430.\u00a0<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\nThe Bitcoin (BTC) Records<\/strong><\/h2>\n
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Probable Price Impact<\/strong><\/h2>\n
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