With few hours to the expiration of $923 million worth of Bitcoin (BTC) options, BTC whales, professional traders, and retail owners, have increased momentum in their transactions.
Data obtained from a popular crypto data aggregator, Glassnode, showed over 900,000 addresses being very active lately.
The last time such development was witnessed was a few weeks before the 2017 huge bull run.
READ MORE: BTC whales number surges to three-year high
The last time we had over 900,000 active addresses for #Bitcoin was few weeks before 2017 huge bull run. pic.twitter.com/7nKz8lrTyn
— Crypto Rand (@crypto_rand) June 24, 2020
Recall that weeks ago, the number of individuals with Bitcoin (BTC) assets of 0.1 coins or more had broken new all-time highs.
The data obtained by Glassnode recently shows the number of Bitcoin wallets holding 0.1 BTC or more reaching a new record high of 3,054,282, beating out May 21’s previous record by about 212 addresses.
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In addition, as transaction numbers in BTCs market keep hitting record highs, the amount of dollars that buyers invested in $BTC just made a new all-time high. This shows that something big is about to happen in the flagship cryptocurrency market.
The amount of USD that buyers invested in $BTC just made a new all-time-high.
Realized market cap measures the value of all coins at the price they last transacted.
Price isn’t there yet, but conviction is.
source: @glassnode pic.twitter.com/n0AYbhxkEj
— Luke Martin (@VentureCoinist) June 19, 2020
The momentum in BTCs market has been gaining steady pace since a report released by America’s most valuable bank, JP Morgan Chase, showed Bitcoin as a store of value asset.
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“Though the [bitcoin] bubble collapsed as dramatically as it inflated, bitcoin has rarely traded below the cost of production, including the very disorderly conditions that prevailed in March,” said JPMorgan experts in a report led by the head of U.S. interest rate derivatives strategy, Joshua Younger and cross-asset research analyst, Nikolaos Panigirtzoglou.
