Addresses holding at least $100 worth of BTC hit a new all-time high

A new report by Coin Metrics shows the number of addresses holding at least $100 worth of BTC hit a new all-time high of 9.74M on October 22nd.

As suggested in the report, a single person or entity can control multiple addresses, so this only shows an approximation of usage. But the trend suggests that the amount of BTC holders is increasing, which is a positive signal for BTC’s long-term adoption.

Bitcoin vs Gold

BTC’s correlation with gold has been near all-time highs while it’s correlation with the dollar has been at all-time lows.

Bitcoin Supply

BTC supply is increasingly being moved off of centralized exchanges, and presumably held by individuals. 

Bitcoin Price vs Supply

While holding activity has been increasing, BTC’s supply inflation has been decreasing. 

In Conclusion

All these metrics are seeming quite bullish for crypto in particularly BTC.