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Bitcoin addresses holding the asset for less than 30 days have jumped in relation to the current bullish momentum, with accounts increasing their stake by 4.2%.
Source: Finbold
BTCUSD is down -3.06%
Bitcoin daily active addresses, a crucial metric in price movement, are also on the rise from the latest IntoTheBlock data.
The number of accumulation wallet addresses that have recently been active but have not spent their cryptocurrencies has reached a new all-time high. The increase in network growth is expected to further lead to more upside movement.
Cryptocurrency trading expert, Ali Martinez, observes that the price movement is positively correlated to the addition of new addresses in the ecosystem.
The primary digital asset dropped to about $35,000 before rebounding to a high of about $45,000 in the wake of Russian invasion in Ukraine.
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