The flagship crypto, Bitcoin is on stealth mode, breaking its lifetime highs at levels not seen since the era of this financial ever-changing market.
What you should know: Bitcoin price today is $37,683.75 with a daily trading volume of $80,473,563,591. Bitcoin is up 10.51% for the day.
- The most widely known crypto-asset now has a market value of $700.7 billion.
- It has a circulating supply of 18,593,112 BTC coins and a max supply of 21,000,000 BTC coins.
- Investments from Square, Paul Tudor Jones, MassMutual, and SkyBridge Capital are further indisputable evidence of big money investors in the flagship crypto market.
READ: Bitcoin miners are super-rich, earn $1,000,000 per hour
Playing into the hands of Bitcoin bulls are macros showing 78% of the circulating Bitcoin supply is illiquid and therefore hardly accessible for buying.
This points to a bullish investor sentiment as large amounts of BTC are being hoarded – which reduces sell pressure.
READ: Only 2.43 million Bitcoins left for mining
Also, the number of transactional activity on the world’s most popular crypto market is unprecedented, as data retrieved from the Glassnode chart revealed an upwards trend.
- Bitcoin BTC Number of Transactions (1d MA) just reached a 17-month high of 16,482.542
- The previous 17-month high of 16,435.792 was observed on 07 August 2019
READ: Bitcoin could hit above $100,000 by August 2021
📈 #Bitcoin $BTC Number of Transactions (1d MA) just reached a 17-month high of 16,482.542
Previous 17-month high of 16,435.792 was observed on 07 August 2019
View metric:https://t.co/vE50X7QA8g pic.twitter.com/RWJ8bJe5w2
— glassnode alerts (@glassnodealerts) January 6, 2021
Bitcoin continues to exert its bullish hold on the broader crypto market, with major altcoins also printing record gains
READ: Investors move over $1 billion worth of Bitcoin at an alarming rate