Bitcoins non-zero addresses have hit a new all-time high of nearly 44 million, that during the bear market and mostly through shrimps buying.

When it comes to bear market we usually all associated them with downturns on all possible metrics such as users entering the markets on the simplest way. But very surprisingly this bear market has been the complete opposite of that and every bear market that we had before. Maybe we went down on the price charts but on most other on-chain charts we just went up and up.

One of that is the amount of non-zero addresses with Bitcoin, meaning addresses that hold above 0 BTC. Here we are at about 48.5M and have just hit a new ATH through our rally in January! This metric is the perfect one to see how many people are starting to enter Crypto even in a bear market.

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Chart imported from Glassnode

As we can see on this chart we have mostly gone up through the rally in January but also we had hit about the same levels in November of last year when the FTX implosion happened. This could be due to the positive effect of decreasing trust in exchanges and the increase in self-custody which was a must needed trend that finally happened.

It will also be a delight to hear that WE are the reason for that, the shrimps. Anyone holding under 1 BTC is considered a shrimp on the on-chain. Below you can see the chart with those shrimp addresses also hitting a new ATH and it does seem very similar to the chart above… It is even more better that even smaller investors are still ready to enter Crypto in a bear market as they truly believe in the long-term vision here.

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Chart from Glassnode and by cryptonews site