Bitcoin (BTC) Price Consolidates After Recent Bloodbath

• Bitcoin is down 0.14% in the last 24 hours.
• Bitcoin addresses holding more than 10,000 BTC have surged massively in the last 5 days.

Bitcoin (BTC) has had a challenging month because of its low performance every week. The supreme coin’s price activity has been sluggish, and there are no signs that it will improve very soon. However, the price is in the consolidation phase, confined within a range. BTC was trading at $35,816 with the Awesome Oscillator below the zero line as of this writing. The RSI could only go as low as 36.24, well shy of the neutral zone.

Whales Holding More Than 10K BTC Rise

On May 7th, Glassnode said that the number of active addresses in lost had surpassed $15 million for the first time in over two years. Furthermore, according to Glassnode, there were 26,723,028 active addresses in profit at a three-month low.

A little increase in the number of wallets with a balance of more than 0.01, 0.1 BTC, and 1 BTC was seen by Glassnode, with 9.9 million, 3.46 million, and 836K wallets, respectively, now in use. At this time, only 2,400 addresses have more than one thousand bitcoins. However, the number of Bitcoin addresses holding more than 10,000 BTC has surged massively in the past five days. Addresses with more than 10K BTC were up to 90 on May 3rd, then 95 on May 6th.

The $28k price range may support Bitcoin (BTC), the leading digital currency. Based on the correlation between Bitcoin and the conventional markets, notably the S&P 500 index, this is what Timothy Peterson of Cane Island Alternative Advisors predicted. According to CMC, the Bitcoin price today is $35,925.40 USD with a 24-hour trading volume of $20,457,103,825 USD. Bitcoin is down 0.14% in the last 24 hours.