CandleFocus Bitcoin Sees Multi-Month High as 320K+ Addresses Prove Strong Support
2024-10-21
Author: Content Editor
Bitcoin is consolidating near its previous all-time high of $73,737, with over 320,000 active addresses engaging within this price range. Of these addresses, 220,000 have an average purchase price of $68,500, indicating a strong base of support. Long-term holders remain confident, with profitability evident across all buy ranges above $60,000. Institutional players, including BlackRock's iShares Bitcoin Trust, have contributed to the recent price surge, with BlackRock adding 16,975 Bitcoin to its holdings. CEO Larry Fink highlighted Bitcoin's legitimacy as an asset class, emphasizing factors like transparency and liquidity rather than political influences.
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