Despite Bitcoin’s price correction this month, the number of addresses with a BTC balance has surged to an all-time high, according to the crypto insights firm Glassnode.
The number of Bitcoin addresses with a non-zero balance hit a new all-time high last week, Glassnode reports on Twitter.
“The number of Bitcoin addresses with a non-zero balance has reached a new all-time high of 38.76 million addresses. The previous high of 38.7 million was set seven months ago on April 23rd, taking 213 days to fully recover.”
Glassnode also notes that the number of BTC addresses holding 0.01+ BTC skyrocketed to an all-time high of 9.33 million on Monday.
Additionally, Glassnode says that the number of addresses holding 0.1+ BTC hit 3.28 million on Sunday, another all-time high.
Bitcoin is trading at $57,330.08 at time of writing, down over 16% from its all-time high of $69,044.77 that it posted earlier this month.
Due to BTC’s recent correction, the number of Bitcoin addresses that are underwater hit a one-month high of 5.62 million on Sunday, according to Glassnode.
📈 #Bitcoin $BTC Number of Addresses in Loss (7d MA) just reached a 1-month high of 5,262,399.310
View metric:https://t.co/s2ciFMlDcX pic.twitter.com/WtBkXhEk6F
— glassnode alerts (@glassnodealerts) November 28, 2021
The analytics firm does note, however, that November’s overall price correction is actually the least severe pullback of 2021 in terms of a drawdown from BTC’s all-time high.
Bitcoin has traded down -21.8% off the all-time high (ATH) during this month’s correction.
“It may be a surprise that this correction is actually the least severe in 2021, measured in terms of drawdown from ATH.
Jan = -29.4%
Feb = -24.2%
Apr = -26.5%
May-July = -54%
Sept = -37.2%
Nov = -21.8%”
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