09/10/2023 – Bitcoin Addresses and Wallets Analysis
The Bitcoin Address Indicators for the recent dates of 7th and 8th October 2023 provide valuable insights into the activity and distribution of wallet addresses based on their balance values. Taking into account the ‘Variation’ column, we observe that the active addresses decreased by 2.27% on the 7th, and by 2.20% on the 8th.
This indicates a decline in the number of wallet addresses currently engaged in Bitcoin transactions. Furthermore, when considering addresses with balances above certain thresholds, we note that the number of addresses with a balance over 0.01 Bitcoin decreased by 0.12% on the 7th, but by only 0.01% on the 8th. The same trend is observed for addresses with balances over 0.1, 1, 10, and 100 Bitcoins.
The variations indicate a slight stabilization in the number of Bitcoin addresses with higher balance values. The evidence from these indicators, combined with the recent context in the cryptocurrency market, provides a moderate level of confidence in the analysis.
Bitcoin Indicators
| Date | Value | Variation | Address |
|---|---|---|---|
| 08/10/23 | 933,577 | -2.20% | Active Addresses |
| 07/10/23 | 954,107 | -2.27% | Active Addresses |
| 08/10/23 | 12,351,106 | -0.01% | Addresses with over 0.01 |
| 07/10/23 | 12,352,661 | -0.12% | Addresses with over 0.01 |
| 08/10/23 | 4,487,470 | -0.01% | Addresses with over 0.1 |
| 07/10/23 | 4,487,744 | -0.11% | Addresses with over 0.1 |
| 08/10/23 | 1,019,372 | 0.02% | Addresses with over 1 |
| 07/10/23 | 1,019,120 | -0.26% | Addresses with over 1 |
| 08/10/23 | 157,192 | 0.06% | Addresses with over 10 |
| 07/10/23 | 157,100 | -0.21% | Addresses with over 10 |
| 08/10/23 | 15,856 | -0.08% | Addresses with over 100 |
| 07/10/23 | 15,868 | -0.01% | Addresses with over 100 |
| 08/10/23 | 2,012 | 0.00% | Addresses with over 1000 |
| 07/10/23 | 2,012 | 0.10% | Addresses with over 1000 |
Conclusion
In conclusion, the Bitcoin Address Indicators reveal a decrease in the number of active wallet addresses and a relative stabilization in the distribution of addresses with higher balance values. Although the variations are relatively small, they suggest a cautious market sentiment where Bitcoin holders are not actively engaging in transactions while maintaining their existing balances.
This aligns with the broader narrative of recent uncertainties in the cryptocurrency market and investor conservativeness in light of potential regulatory shifts and market volatilities. Monitoring the Bitcoin Address Indicators over a longer period will provide a more robust understanding of the market dynamics and potential future trends.
Disclaimer – Informational Content, Not Investment Advice: Content provided herein is solely for informational purposes and should not be construed as a recommendation, endorsement, or suggestion to engage in any form of investment activity. The information presented in this post is not intended to serve as financial, legal, tax, or investment advice.
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