• BTC saw a surge in new addresses and a decline in exchange reserves.
• Despite weekend corrections, BTC attempted a comeback with modest gains on the daily timeframe chart.

In recent weeks, Bitcoin [BTC] embarked on an exhilarating price run, reigniting hopes that the king coin would surge into the illustrious $30,000 range. Alas, the weekend brought with it some necessary corrections that subdued the bullish mood. 

Read Bitcoin’s [BTC] Price Prediction 2023-24

Yet, despite the apparent downturn, certain metrics pointed to this as nothing more than a fleeting obstacle in the grand scheme.

Bitcoin sees an influx of new addresses

Did the recent dip in Bitcoin’s value on 1- 2 April deter potential investors from entering the market? It seems not. Despite the temporary setback, data from Glassnode indicated that new investors continued to flock toward the cryptocurrency.

The chart showed a substantial increase in new addresses joining the network, indicating growing interest and participation. As of 2 April, per Glassnode, 471,000 new addresses had joined the network.

The surge in new addresses joining the Bitcoin network will likely positively affect BTC’s price movement. As more investors open new addresses, the coin’s demand will increase, which could drive up prices. Furthermore, any minor drop in the price of BTC may

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Author: Suzuki Shillsalot

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