BTC has surged by 5.91% over the past month .Why 350k new addresses are critical for Bitcoin to see a sustained uptrend
Bitcoin new addresses have declined over the past month. According to analysts, BTC must reclaim 350k new addresses for a sustained rally.However, despite this upward momentum, Bitcoin’s daily active addresses have expressed a sharp decline. As such, active addresses have declined from a high of 1.1 million to 980k. This drop in active addresses has left analysts talking.According to him, the market is healthy only if the number of new Bitcoin addresses increases.
Subsequently, when addresses remain above this level, it means bulls are gaining strength and the uptrend holds.
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