Add as a preferred source on GoogleBitcoin Cluster Near $83,000 Reaches 921,000 BTC as Trading Returns
The Oct. 22 estimate is below the roughly 1.05 million BTC clustered near the same price on Aug. 3. Renewed trading is helping fill a gap below the zone.
As of Oct. 22, about 921,000 Bitcoin (BTC) had accumulated near $83,000, nearing 1 million coins and bringing the price area back into focus.
A similar concentration near that price reached about 1.05 million BTC on Aug. 3, making the Oct. 22 estimate smaller. About 550,000 BTC were associated with a Coinbase wallet consolidation about a year ago. An estimated 100,000 to 200,000 BTC may remain from that activity, though the amount still held is uncertain.
Bitcoin entered the first concentration gap below $83,000 on Oct. 8. Trading through the area had previously been limited, and renewed activity after Bitcoin returned is helping fill the gap. Attempts to move lower have met resistance, and the $83,000 area is a focal point for buyers and sellers.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.