• Bitcoin has been seeing consistent daily active addresses and whale transactions.
• The king coin has now experienced a seven-day consecutive price uptrend.

Bitcoin’s [BTC] price has surged to a level not seen in more than a year. The enthusiasm accompanying this increase suggested that the asset may be able to sustain its current bullish trend. 

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

Bitcoin sees an uptick

On 23 October, Bitcoin’s price exceeded $35,000, reaching a price level not witnessed in nearly two years. This price surge was accompanied by favorable movements in other key metrics, including the counts of whale transactions and daily active addresses.

per a post by Santiment, these metrics indicated a potential for a sustained uptrend in Bitcoin’s price.

Furthermore, On 24 October, the network recorded over 1 million daily active addresses, a significant milestone. Additionally, the number of whale transactions exceeded 14,000.

It’s worth noting that since the commencement of the price uptrend, daily active addresses have frequently surpassed the 1 million mark. Also, the number of whale transactions has shown a notable increase.

As of this writing, daily active addresses were over 430,000, while whale transactions had crossed 3,000.

FOMO and FUD set in with a price increase

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Author: Adewale Olarinde

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