Bitcoin Climbs Past $30K Mark While BTC HODLers Spike At Fastest Rate Since 2021

Bitcoin (BTC) crossed the key psychological level of $30,000 Monday evening and recorded a surge in the number of BTC HODLers at the fastest rate since 2021 all while investors anticipate the key inflation data coming out this week which could disturb the current prices of cryptocurrency assets.

The world's first-ever digital asset and the largest crypto asset by market capitalization soared 7% to $30,193.25, breaking the $30,000 level and achieving a new price high since June 2022.

Bitcoin last traded at $30,000 on June 10, 2022, and plummeted all the way down to $20,000 where it stayed for the most part of last year and into the first few weeks of this year.

The maiden crypto traded around $28,000 over the past three weeks as investors braced themselves for the impact of the banking turmoil in the United States.

Bitcoin's current price reflects an increase of about 80% year-to-date after trading at the beginning of this year at around $16,000.

The largest crypto asset showed off in January and recorded an increase in its price, but stalled in February and regained momentum last month after Silvergate, Silicon Valley and Signature banks threatened the U.S. financial banking system when they came crashing down.

Bitcoin has also given birth to more investors turning into long-term holders, as per the latest data from the crypto market intelligence platform Santiment.

The firm noted that the total amount of individuals and entities holding Bitcoin for the long run surged to nearly 45 million, with the numbers continuously spiking at the fastest rate since 2021.

Santiment's data is seemingly aligned with that of blockchain intelligence firm Glassnode, which reported that many traders want to keep their Bitcoin untouched.

The firm's data disclosed that an all-time high supply of Bitcoin, which is around 53%, was last active over two years ago, with nearly 30% of all BTC in circulation not moved over the last five years and less than 15% last active over 10 years ago.

Meanwhile, data provided by LookIntoBitcoin, an on-chain data provider, underlined that there are 991,670 Bitcoin addresses holding over 1 BTC as of March 29, 2023, which rose immediately after the colossal crash of FTX in November from 915,110 on Nov. 8 to 961,756 on Dec. 8.

Bitcoin saw a 6.45% increase over the past 24 hours and maintained trading in the green zone at $30,117.21 with a 24-hour volume of $23,678,912,937 as of 3:22 a.m. ET on Tuesday, according to the latest data from CoinMarketCap.