I found a good website for researching Bitcoin(BTC) on-chain data. The website has many good sources. So, I decided to learn one thing every day. Bearish markets are good to learn something for long-term investors. Learning something is helpful for the mind control and holding assets long time.
The number of addresses holding less 10 BTC has been increasing. It seems like progressing of mass adoption. However, the number of addresses holding more 10 BTC is consolidating or decreasing. 10 BTC is now worth more than $250k. It's not easy for ordinary person in the world.
I wondered the reason why it is consolidating or decreasing. The number of addresses holding more than 10 BTC is becoming the domain for institutions. Time goes by, the phenomenon will be intensified.
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Well, the data is just ramping up. Grayscale are also trying to get SEC okay the conversion of their assets to BTC spot ETF which might signal a bull run but we still got the sad news of FTX liquidating their remaining assets and that is gonna impact the market, to be honest.
Anyways, these are times one need to keep a close watch on your portfolio and fiat like your life depends on it.
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