Bitcoin’s Price Soars Past $107.1K: Wallet Growth Aligns With Bullish Trend
- Bitcoin hits an all-time high of $107.1K, aligning with wallet growth and bullish price momentum.
- Non-empty wallets extended by 5.2%, counting 54.62 million addresses holding BTC.
- BTC’s market cap rises to $2.1 trillion, with 24-hour trading volume surging 30.56% to $81.1 billion.
Bitcoin has achieved a new all-time high, breaking records by surpassing a market value of $107.1K. The achievement of an ATH relates to the increase in non-empty wallets over the past year.
Non-Empty Wallets on the Rise
Non-empty wallets refer to addresses containing a positive Bitcoin balance, signaling ownership across various user groups. This trend reflects heightened user confidence and ongoing adoption of digital assets, with the steady increase in wallets highlighting the expanding reach of BTC across both new and existing users.
The number of non-empty wallets on the Bitcoin network has ascended to 54.62 million. This figure shows an increase of 5.2% over the past year. Santiment data indicates that BTC’s price movements have recorded a uniform upward trend over the year as the trajectory aligns with wallet growth.
Source: Santiment(X)
The chart generated by Santiment indicates that, after a brief correction period mid-year, Bitcoin’s price resumed a strong bullish trend. The price saw sharp increases in recent months, illustrated by consecutive green candlesticks leading into December.
The blue line on the chart corresponds to the total number of holders, which steadily increased throughout the year. Wallet activity maintained a consistent upward path, indicating increased interest and accumulation among holders. This increase correlates with Bitcoin’s positive price performance, especially during the last quarter
A Record-Breaking Market Value
CoinMarket Cap data indicates that BTC is trading at $106,460.91 , recalling a 1.86% price increase over the past 24 hours. Bitcoin’s total market capitalization stands at $2.1 trillion, also showing a 1.86% rise.
Source: CoinMarketCap
Trading volume over the last 24 hours surged to $81.1 billion, recording a 30.56% increase. Bitcoin’s fully diluted valuation (FDV), which represents the potential market cap at max supply, is $2.23 trillion. The volume-to-market cap ratio for the last 24 hours stands at 3.85%.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ILV breaks through $50
AAVE breaks above $370
PENGUUSDT now launched for futures trading and trading bots
Bitget has launched PENGUUSDT for futures trading with a maximum leverage of 75, along with support for futures trading bots, on December 18, 2024 (UTC+8). Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. PENGUUSDT-M perpetual futures: Parameters Details Listi
Musk says Warren's allegations of conflict of interest in DOGE were driven by SBF parents