Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Ethereum (ETH) Nears Critical $4,000 Level, but Profit-Taking Risk Looms: Market Top?

02/08/2025

Ripple Rival Circle Downgraded by Compass Point: Details

02/08/2025

Andreessen Horowitz warns of loopholes in draft crypto rules

02/08/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    DigitalX Unveils Massive Bitcoin Acquisition: Total Holdings Soar

    02/08/2025

    Both ends of the curve agree — there’s not enough bitcoin for everyone

    02/08/2025

    Pledditor vanishes from X as bitcoin hits all-time high

    02/08/2025

    $100 Billion BlackRock Bitcoin ETF Prediction Revealed

    02/08/2025

    Ethereum (ETH) Nears Critical $4,000 Level, but Profit-Taking Risk Looms: Market Top?

    02/08/2025

    Ethereum Price Rally on the Way?

    02/08/2025

    10 Ways Ethereum Changed Crypto Over the Past Decade

    02/08/2025

    Ethereum Defies Bitcoin Slump as Analysts See Path to $5,000

    02/08/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    02/08/2025

    Labubus have succeeded in every way that NFTs have failed

    01/08/2025

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    31/07/2025

    NFT sales surge to $574 million in July, second-highest in 2025

    31/07/2025

    Ethereum (ETH) Nears Critical $4,000 Level, but Profit-Taking Risk Looms: Market Top?

    02/08/2025

    Ripple Rival Circle Downgraded by Compass Point: Details

    02/08/2025

    Andreessen Horowitz warns of loopholes in draft crypto rules

    02/08/2025

    Urgent Alert for Four Trading Pairs on August 8

    02/08/2025
  • Blockchain

    IONOS’ InternetX plans to tokenize 22M domains through Doma Protocol

    01/08/2025

    The Protocol of Agents: Web3’s MCP Potential

    01/08/2025

    EToro Plans to Tokenize U.S. Stocks on Ethereum in Blockchain Push

    01/08/2025

    Circle Wallet’s Strategic Leap for Web3 Developers

    01/08/2025

    Pyth Network brings Hong Kong stock prices onchain for global access

    01/08/2025
  • DeFi

    Strobe Finance Launches on Axelar Network to Power DeFi Capabilities, Cross-Chain Interoperability

    02/08/2025

    Chainlink introduces new pricing methodology for DEX-traded assets

    02/08/2025

    Why This DeFi Dip Might Be the Start of a Major Rotation?

    02/08/2025

    Lido cuts staff, Curve rethinks L2s

    02/08/2025

    Alchemy Pay Integrates into Solv Protocol to Bridge Fiat with Bitcoin DeFi

    02/08/2025
  • Metaverse

    Where Has the Metaverse Gone? Examining a Failed (and Costly) Trend

    01/08/2025

    From Metaverse to Machine Learning, Inside Meta’s $72 Billion AI Gamble

    31/07/2025

    AntVerse Integrates Terminus to Transform AI-Powered Metaverse with Web3 Payments

    25/07/2025

    The Sandbox Launches Largest LAND Auction Using GBM Protocol

    21/07/2025

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025
  • Regulation

    Ripple Rival Circle Downgraded by Compass Point: Details

    02/08/2025

    US stocks largely flat as investors weigh earnings, tariffs

    02/08/2025

    Wall Street is Warming Up to Rate Cuts—Will Crypto Be the Biggest Winner?

    02/08/2025

    DevvStream pivots, anchors crypto treasury to BTC and SOL

    02/08/2025

    XRP and BTC Prices Spike Amid Rumors of Powell’s Resignation

    02/08/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Urgent Alert for Four Trading Pairs on August 8

    02/08/2025

    Assetera Opens Tokenized Securities Market to Crypto Exchanges With MiFID-Compliant API

    02/08/2025

    Over 40% of Jupiter’s Trading Volume Now Flows Through Private AMMs

    02/08/2025

    Kraken Shifts 82,277,388 XRP Worth $246M to Unknown Wallet

    02/08/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    02/08/2025

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    01/08/2025

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    31/07/2025

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    30/07/2025

    Sanctioned nations are secretly mining Bitcoin and the clues are in the hash rate

    02/08/2025

    Bitcoin Mining Profitability Last Month Hit Highest Level Since the Halving: JPMorgan

    01/08/2025

    Bitcoin mining faces surging power demands and record-low fees

    01/08/2025

    Auradine Shipped $73M Worth of Bitcoin Miners to MARA in H1 2025

    31/07/2025

    Andreessen Horowitz warns of loopholes in draft crypto rules

    02/08/2025

    UK FCA to allow retail investors to buy Bitcoin and crypto ETNs

    02/08/2025

    SEC’s “Project Crypto” Announcement Marred by False ETH Security Rumors

    02/08/2025

    State of stablecoins after GENIUS Act: Expert weighs in

    02/08/2025

    Ethereum (ETH) Nears Critical $4,000 Level, but Profit-Taking Risk Looms: Market Top?

    02/08/2025

    Ripple Rival Circle Downgraded by Compass Point: Details

    02/08/2025

    Andreessen Horowitz warns of loopholes in draft crypto rules

    02/08/2025

    Urgent Alert for Four Trading Pairs on August 8

    02/08/2025
  • MarketCap
NBTC News
Home»Bitcoin»Bitcoin Wallet Activity Touches 5-Month High, Will BTC Price Follow?
Bitcoin

Bitcoin Wallet Activity Touches 5-Month High, Will BTC Price Follow?

NBTCBy NBTC14/09/2023No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Despite the less-than-impressive performance over the last few months, Bitcoin investors are still digging their heels deeper into the digital asset. This is evidenced by the continuous rise in wallet activity that has been recorded during this time.

Bitcoin Wallet Activity Hits Highest In 5 Months

In a Tuesday post, on-chain data aggregator Santiment revealed that there has been a significant uptick in Bitcoin wallet activity despite the BTC price downtrend. Apparently, while the market had fluctuated heavily due to regulatory uncertainties, Bitcoin investors held their own, especially in terms of new wallet address activity.

The Santiment reports show fluctuations in this metric over the months. However, the one consistent thing was the tendency to jump back up even after dipping significantly. In September alone, the metric has moved from a low of around 860,000 to over 1.1 million unique daily Bitcoin addresses active.

Unique daily addresses hit 5-month high | Source: Santiment on X

Interestingly, this figure is the highest this metric has been since April, proving that the BTC price downtrend has not served as a deterrent for Bitcoin investors. Rather, it looks as if investors are using the current low prices as a way to increase their footprint.

The uptick can also be explained by the euphoria triggered by asset manager Franklin Templeton filing for a Spot Bitcoin ETF. While the hype around the filing was short-lived, it triggered a brief uptick in the price of the digital asset, and likely aided the rising wallet activity rate as investors rushed to take advantage of the growth.

Will BTC Price Follow Wallet Activity?

Even though wallet activity is up, the BTC price is still straining below $26,000. This could suggest that this metric does not really have much bearing on the price of Bitcoin. Rather, it just points to investors not slowing down usage of the network despite low prices.

Bitcoin BTC price chart from Tradingview.com (Wallets)

BTC price recovers above $26,000 | Source: BTCUSD on Tradingview.com

Presently, investors are still eagerly awaiting a decision on the numerous Spot BTC ETFs that have been filed by fund managers. The outcome of these filings, whether rejected or accepted, will likely be the defining factor for the Bitcoin price going forward.

For now, there are no big moves to be expected for the digital asset, especially given the fact that it is still ranging below its 50-day and 100-day moving averages. Mounting resistance between $26,000-$27,000 suggests that Bitcoin might continue to trade sideways for the better part of September.

At the time of writing, Bitcoin is treacherously holding above $26,000 with meager gains of 0.64% in the last day.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

DigitalX Unveils Massive Bitcoin Acquisition: Total Holdings Soar

02/08/2025

Both ends of the curve agree — there’s not enough bitcoin for everyone

02/08/2025

Pledditor vanishes from X as bitcoin hits all-time high

02/08/2025

$100 Billion BlackRock Bitcoin ETF Prediction Revealed

02/08/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Ethereum (ETH) Nears Critical $4,000 Level, but Profit-Taking Risk Looms: Market Top?

02/08/2025

Ripple Rival Circle Downgraded by Compass Point: Details

02/08/2025

Andreessen Horowitz warns of loopholes in draft crypto rules

02/08/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.