by: John P. NjuiPosted on:

Bitcoin (BTC) Addresses Holding 0.01+ BTC Hits New ATH Despite Bearish Outlook

The number of Bitcoin addresses holding 0.01 BTC or more has just hit a new all-time high of 11,420,422. This milestone was noted and shared by the team at Glassnode through the following tweet.

Bitcoin Remains Bearish With a Dip to $16.2k Likely Before Friday’s Contract Expiry

The new all-time high of Bitcoin addresses with 0.01 or more BTC comes at a time when Bitcoin is battling to maintain a level above the $16,500 price area. Earlier today, Bitcoin dropped to a local low of $16,465 after the popular Bitcoin and crypto trading bot company 3commas confirmed that its database of customer trading APIs had been leaked.

For a long time, customers of 3commas have been the victim of contra trading using the leaked API keys, with some experiencing losses in the millions.

In addition to the 3commas revelation, a large amount of futures contracts from traditional trading firms, such as CME and crypto exchanges, such as Deribit, are expiring tomorrow, Friday, December 30th, thus increasing the chances of a dip to lower levels around $16,200.

Further checking the one-day BTC/USDT chart below courtesy of Tradingview.com reveals that Bitcoin also recently got rejected at the 50-day (white) moving average, hinting that its bearishness could continue till the new year with BTC having adequate support at $15,256, $15,588 and $15,476.

Bitcoin’s daily MACD further confirms its weakness. Still, its daily MFI (green) and RSI (red) are in neutral territory, hinting that the 50-day moving average could be exceeded after the futures and options contracts expiry on Friday.

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