Bitcoin (BTC) rose above $29,000 the day before. For a short time, it even managed to exceed $29,500, but quickly retreated. Experts believe that a zone of strong resistance has formed here.
Bitcoin fell to $29,250 on the night of Thursday, August 2. Traders’ activity is at its lowest level since the fall of 2020, so the range of price fluctuations has narrowed.
However, most investors prefer to buy the cryptocurrency while it is trading below $30,000. The Glassnode report said that the number of addresses with a balance of at least 0.01 BTC reached an all-time high of 12,221,783.