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What does the dramatic rise in this metric mean for Bitcoin
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Bitcoin (BTC) hiked considerably during last week, advancing close to a new all-time high. Various new HODLers have incorporated the flagship token in their portfolio. That said, strong hands continue to HODL. At least that’s what the metrics projected.
Consider this, Bitcoin’s on-chain activity has been consistently high through Aug-Oct. Many activity metrics are up since the $29k low, in late July. However, a few of these metrics did showcase otherwise.
Large Bitcoin (BTC) addresses have jumped significantly since the start of September 2021. As per the latest data published by Santiment, BTC addresses holding between 100 and 1,000 coins increased by approximately 2% in the last five weeks.
“The number of Bitcoin addresses holding between
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