While Bitcoin is still down about 65% from its ATH, the number of addresses with more than $10 worth of BTC has reached a new ATH!

The rally last months was a breath of fresh air surely after the bear market in 2022 but many already pointed out that we are pretty much still in the mud. BTC is still down about 65% from its All-time-high and right now we are also pretty much stuck at the crucial $25k resistance where we got rejected a couple of times just in the past days. But there are more important metrics than prices…

One of them is how many have BTC, this basically can be a good indication of vague understanding of how many new users entered/left Crypto. Of course not a 1:1 metric as one person can have multiple addresses.

If we now divide this metric even more we can look for whale addresses (which have been decreasing) or retail addresses. The best way to describe retail addresses would probably be addresses with a very low amount of Bitcoin, lets go absurdly low to even $10:

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Chart from glassnode made by MitchelHODL on Twitter

What a sight this is, while the BTC price has gone down crashing and burning last year the addresses with >$10 declined a bit then stayed steady and now just are near or already at an ATH with over 24M addresses.

This is truly one of the most bullish metrics out there right now, especially as during last bear markets we have had sharper declines of >$10 addresses but this time it mostly stayed steady and just shows how much adoption we saw that people are still so convicted even in a bear market.