{"id":535461,"date":"2023-05-29T07:45:27","date_gmt":"2023-05-29T07:45:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=535461"},"modified":"2024-06-11T07:01:20","modified_gmt":"2024-06-11T07:01:20","slug":"bitcoin-bulls-push-btc-back-to-28k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-bulls-push-btc-back-to-28k\/","title":{"rendered":"Bitcoin Bulls Push BTC Back Up To $28K Amid Surging Address Activity"},"content":{"rendered":"

Bitcoin (BTC), the pioneer of cryptocurrencies, continues to captivate the financial world with its ever-evolving landscape. In recent developments, Bitcoin’s active addresses have witnessed a significant surge, soaring to a three-week high.\u00a0<\/span><\/p>\n

This surge in activity has not only breathed new life into the Bitcoin network but has also reverberated in the form of a substantial increase in the crypto’s price.<\/span><\/p>\n

The increased demand resulting from heightened network activity has propelled the alpha coin’s price to new heights, igniting a sense of excitement and potential within the cryptocurrency market.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future<\/a><\/div>\n

Surge in Bitcoin’s Active Addresses Signals Growing Utility<\/strong><\/h2>\n

Bitcoin’s utility is on the rise as the number of active addresses for the cryptocurrency has surged to a remarkable three-week high, according to crypto intelligence portal Santiment in a <\/span>Twitter update<\/span><\/a>. <\/span><\/p>\n

\n

\ud83d\udcc8 May’s concerningly low #Bitcoin<\/a> address activity is finally starting to rebound again. Increasing utility is necessary for #crypto<\/a> assets to enjoy sustained rallies. Keep an eye on whether $BTC<\/a> can head into June with 1M or more daily active addresses. https:\/\/t.co\/LSa2slHWgt<\/a> pic.twitter.com\/zqTH9KGIqc<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) May 27, 2023<\/a><\/p><\/blockquote>\n

After a lull in activity, the latest data reveals that the number of active addresses for BTC has reached an impressive 960,000, marking the first time since May 3 that such levels have been attained.<\/span><\/p>\n

\"\"<\/p>\n

Source: Santiment<\/pre>\n
In sync with the surge in active addresses, Bitcoin’s price on <\/span>CoinGecko<\/span><\/a> has climbed $28,032, giving it a 3.0% increase within the last 24 hours. This surge in price also translated to an increase of 4.7% over the course of seven days.<\/span><\/p>\n
\"\"<\/p>\n
\"\"<\/p>\n
Source: Coingecko<\/pre>\n
The surge in active addresses showcases the growing utility and adoption of Bitcoin, which is vital for its sustained growth in the cryptocurrency ecosystem. As we approach the month of June, all eyes are on Bitcoin to see if it can surpass the significant milestone of 1 million daily active addresses.<\/span><\/p>\n
Bitcoin Whales Resume Aggressive Accumulation\u00a0<\/strong><\/h2>\n
Despite a temporary slowdown in accumulation, Bitcoin whales – those holding 10,000 or more BTC – have once again intensified their acquisition of the leading cryptocurrency, with a particular surge observed over the weekend. <\/span><\/p>\n
This aggressive accumulation by whales suggests a renewed confidence in Bitcoin’s long-term potential and may serve as an indicator for future market trends.<\/span><\/p>\n
<\/p>\n
BTCUSD reclaims the key $28K territory today. Chart: TradingView.com<\/a><\/pre>\n
Related Reading: Shiba Inu All Green Today \u2013 What\u2019s The Energy Behind The Glow?<\/a><\/div>\n
In the wake of these developments, the crypto market has witnessed a significant <\/span>increase in liquidations<\/span><\/a>, surpassing a staggering $118 million within the past 24 hours alone.<\/span><\/p>\n
According to <\/span>The Kobeissi Letter<\/span><\/a>, an authoritative source on market insights, the recent breakthrough of Bitcoin above the $28,000 mark coincided with the news of a debt ceiling deal “reached in principle” on the previous night.\u00a0<\/span><\/p>\n
\n
In the debt ceiling deal, the debt ceiling is rumored to not be raised by a specific amount.<\/p>\n
Instead, the debt ceiling will run uncapped until January 1st, 2025.<\/p>\n
Many are underestimating how significant this is.<\/p>\n
This means that the debt ceiling is basically unlimited for the\u2026<\/p>\n
\u2014 The Kobeissi Letter (@KobeissiLetter) May 28, 2023<\/a><\/p><\/blockquote>\n
Elaborating further, The Kobeissi Letter reveals that the debt ceiling is rumored to remain uncapped until January 1, 2025, without a specific raise in the limit. <\/span><\/p>\n
This development introduces a level of uncertainty and potential implications for the financial landscape, driving market participants to seek alternative investments such as Bitcoin.<\/span><\/p>\n
-Featured image from VectorStock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin (BTC), the pioneer of cryptocurrencies, continues to captivate the financial world with its ever-evolving landscape. In recent developments, Bitcoin’s active addresses have witnessed a significant surge, soaring to a three-week high.\u00a0 This surge in activity has not only breathed new life into the Bitcoin network but has also reverberated in the form of a substantial increase in the crypto’s price. The increased demand resulting from heightened network activity has propelled the alpha coin’s price to new heights, igniting a sense of excitement and potential within the cryptocurrency market.\u00a0 Related Reading: Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future Surge in Bitcoin’s Active Addresses Signals Growing Utility Bitcoin’s utility is on the rise as the number of active addresses for the cryptocurrency has surged to a remarkable three-week high, according to crypto intelligence portal Santiment in a Twitter update. \ud83d\udcc8 May’s concerningly low #Bitcoin address activity is finally starting to rebound again. Increasing utility is necessary for #crypto assets to enjoy sustained rallies. Keep an eye on whether $BTC can head into June with 1M or more daily active addresses. https:\/\/t.co\/LSa2slHWgt pic.twitter.com\/zqTH9KGIqc \u2014 Santiment (@santimentfeed) May 27, 2023 After a lull in activity, the latest data reveals that the number of active addresses for BTC has reached an impressive 960,000, marking the first time since May 3 that such levels have been attained. Source: Santiment In sync with the surge in active addresses, Bitcoin’s price on CoinGecko has climbed $28,032, giving it a 3.0% increase within the last 24 hours. This surge in price also translated to an increase of 4.7% over the course of seven days. Source: Coingecko The surge in active addresses showcases the growing utility and adoption of Bitcoin, which is vital for its sustained growth in the cryptocurrency ecosystem. As we approach the month of June, all eyes are on Bitcoin to see if it can surpass the significant milestone of 1 million daily active addresses. Bitcoin Whales Resume Aggressive Accumulation\u00a0 Despite a temporary slowdown in accumulation, Bitcoin whales – those holding 10,000 or more BTC – have once again intensified their acquisition of the leading cryptocurrency, with a particular surge observed over the weekend. This aggressive accumulation by whales suggests a renewed confidence in Bitcoin’s long-term potential and may serve as an indicator for future market trends. BTCUSD reclaims the key $28K territory today. Chart: TradingView.com Related Reading: Shiba Inu All Green Today \u2013 What\u2019s The Energy Behind The Glow? In the wake of these developments, the crypto market has witnessed a significant increase in liquidations, surpassing a staggering $118 million within the past 24 hours alone. According to The Kobeissi Letter, an authoritative source on market insights, the recent breakthrough of Bitcoin above the $28,000 mark coincided with the news of a debt ceiling deal “reached in principle” on the previous night.\u00a0 In the debt ceiling deal, the debt ceiling is rumored to not be raised by a specific amount. Instead, the debt ceiling will run uncapped until January 1st, 2025. Many are underestimating how significant this is. This means that the debt ceiling is basically unlimited for the\u2026 \u2014 The Kobeissi Letter (@KobeissiLetter) May 28, 2023 Elaborating further, The Kobeissi Letter reveals that the debt ceiling is rumored to remain uncapped until January 1, 2025, without a specific raise in the limit. This development introduces a level of uncertainty and potential implications for the financial landscape, driving market participants to seek alternative investments such as Bitcoin. -Featured image from VectorStock<\/p>\n","protected":false},"author":557,"featured_media":535481,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1122,1144,10923,1557,10199,8686],"class_list":["post-535461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc-price","tag-btcusd","tag-crypto-market","tag-cryptocurrencies","tag-debt-ceiling","tag-ethusd"],"acf":[],"yoast_head":"\nBitcoin Bulls Push BTC Back Up To $28K Level<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC), the pioneer of cryptocurrencies, continues to captivate the financial world with its ever-evolving landscape. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bulls Push BTC Back Up To $28K Amid Surging Address Activity","url":"http:\/\/uniquehot.com\/news\/bitcoin-bulls-push-btc-back-to-28k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-bulls-push-btc-back-to-28k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/a-153.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/a-153.png?fit=842%2C576"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc price","btcusd","crypto market","cryptocurrencies","debt ceiling","ethusd"],"dateCreated":"2023-05-29T07:45:27Z","datePublished":"2023-05-29T07:45:27Z","dateModified":"2024-06-11T07:01:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bulls Push BTC Back Up To $28K Amid Surging Address Activity\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bulls-push-btc-back-to-28k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bulls-push-btc-back-to-28k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/a-153.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/a-153.png?fit=842%2C576\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc price\",\"btcusd\",\"crypto market\",\"cryptocurrencies\",\"debt ceiling\",\"ethusd\"],\"dateCreated\":\"2023-05-29T07:45:27Z\",\"datePublished\":\"2023-05-29T07:45:27Z\",\"dateModified\":\"2024-06-11T07:01:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/05\/a-153.png?fit=842%2C576","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/535461"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=535461"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/535461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/535481"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=535461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=535461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=535461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}