Despite a brief consolidation period until November 7th, Bitcoin (BTC) once again surpassed the $35,000 level and reached over $37,100.
As a result, nearly 80% of its owners are currently making a profit, and participants in the crypto sector are closely monitoring the situation, expecting further growth. 17% of Bitcoin owners incurred losses, according to data from the analytical platform IntoTheBlock.
Furthermore, 1.94 million addresses had previously acquired 778,859 BTC at a minimum price of $24,111.17 and a maximum price of $25,122.37. This makes the average price of $24,650 a critical support level that the leading cryptocurrency must maintain for the bulls to secure a solid victory.
On the evening of November 7th, Bitcoin was trading at $25,502, reflecting a 1.5% daily increase and a 2.8% weekly increase. The monthly performance is positive at 24.90%.
Additionally, Bitcoin experienced a significant surge in network activity, with over 700,000 new addresses appearing on the network on November 4th, indicating a resurgence of investor optimism regarding the growth of the leading cryptocurrency.