Glassnode: Bitcoin addresses holding at least 1 BTC exceed one million

The number of Bitcoin addresses containing at least 1 BTC has surpassed 1 million, according to Glassnode.

The most notable gains in the metric occurred during Bitcoin’s sharp drop in June 2022 (the bankruptcy of 3AC, which was preceded by the collapse of the Terra ecosystem) and after November 11 ( the collapse of FTX).

Since February 2022, the number of holders of 1 BTC has risen by about 190,000.

The Glassnode co-founder, who goes by the handle Negentropic, predicted the continued growth of the leading cryptocurrency.

“We are confident in our mid-term target of $35 000 as external pressures ease. The Fed will pause rate hikes in June […] — optimal for Bitcoin to move higher during the summer. The dollar index has crossed below a significant moving average — explosive moves ahead,” — he explained.

«Buy when there is Blood in the streets.»

?$25.8k still remains a possibility, as indicated by the options market

? Confident in our mid-term outlook of $35k as external pressures subside.

? Market pricing Fed pause in June, no rate cut — optimal for the run to $35k for… pic.twitter.com/xBnIyHK5A0

— ??????????? (@Negentropic_) May 12, 2023

Earlier, former Goldman Sachs executive and macro investor Raoul Pal said that the cryptocurrency will surpass other assets amid the banking crisis.