Bitcoin [BTC] strikes careful balance with the ascent of these two metrics

ambcrypto.com:

Bitcoin’s [BTC] meteoric ascent has allowed it to re-visit and even break beyond its January high on the price front. In fact, the king coin has been more volatile than usual due to its ups and downs on the charts. Nonetheless, the aforementioned uncertainty has not deterred new investors from becoming holders in this market. 

Read Bitcoin (BTC) Price Prediction 2023-24

The number of addresses that have flocked to Bitcoin [BTC] over the past two months has risen, according to data from Santimen t. Over the last two months alone, an additional 1.7 million addresses have been added – A hike of about 4%. 

In fact, the total number of addresses had climbed to 45.19M, at the time of writing. 

What these observations reveal is that the crypto’s price volatility did not exactly deter new investors from acquiring a position in Bitcoin.

Source: Santiment

After a brief bout of volatility which saw BTC oscillate over and under the $25,000-level, at the time of writing, Bitcoin was trading at $26,057. This, after the world’s largest cryptocurrency appreciated by almost 30% in the last 6 days alone. 

Source: BTC/USD, TradingView

The aforementioned bullishness was evidenced by BTC’s price charts on the daily timeframe. Both the Relative Strength Index and the MACD projected an uptrend, one supported by the placement of the Moving Average too.

Here, it’s worth noting that the RSI had a reading of 67 at press time. Simply put, the RSI was on its way to the overbought zone – A sign of the market’s bullishness.

While the price and quantity of Bitcoin addresses have increased recently, the supply on exchanges has also increased over the past few days. In the last five days alone, around 50,000 BTC or $1.2 billion have been put