BTC Whales And Transaction Volume Both Reaches 2-Year Lows

The on-chain alerts platform Glassnode took to Twitter on December4 to share some numbers on Bitcoin (BTC). According to the post, the number of BTC whales has reached a 2-year low of 1,665. The previous low of 1,671 was recorded on November 22 of this year.

BTC number of whales Source: Glassnode

A few hours earlier, Glassnode also shared on Twitter that BTC’s transaction volume (7d MA) has also reached a new 2-year low of $260,626,928.14. The previous low was observed on November 30 2022.

BTC Transaction Volume Hourly chart 7d MA Source: Glassnode

Glassnode also posted that BTC’s number of Spent Outputs with Lifespan 5y-7y (7d MA) has reached a 1-month high of 319.274. The previous high of 318.500 was seen on December 1 of 2022.

Bitcoin / TetherUS 1D Source: CoinMarketCap

Data from the crypto market tracking website CoinMarketCap indicates that BTC is currently trading at $17,008.73 after a 0.27% increase in price over the last 24 hours. The crypto market leader was also able to reach a high high of $17,050.96 over the same time period.

BTC is also still in the green by more than 2% over the last seven days. Adding to BTC’s success over the last day is the fact that the crypto was able to strengthen against its biggest competitor in the market, Ethereum (ETH), by about 2.05%.

The crypto king’s market cap, however, is in the red at the moment and currently stands at $16,139,954,026 after a more than 14% drop over the last day. BTC’s market cap stands at $326,933,224,882.

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