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Bitcoin Active Addresses Signals Golden Cross—What Next For BTC?

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Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.



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BTC Prices Take Breather as Exchange-Traded Funds Record Another Day of Monster Inflows

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A breather in the market from a wider pump earlier in the week came amid a second straight day of strong inflows for U.S. bitcoin exchange-traded funds (ETFs). The ETFs recorded over $893 million in inflows on Wednesday after taking in $879 million on Tuesday, the first back-to-back inflows of more than $850 million. Cumulative net inflows since their introduction in January now total $24 billion, according to data tracked by Farside Investors.



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Bitcoin Price Forms A Golden Cross Showing BTC All-Time High Is Imminent

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The Bitcoin price saw strong gains over the past week adding another 8-9% and is currently trading around $72,200 levels. Also, charts showing the “Golden cross” formation suggest that we might be seeing news all-time highs for BTC very soon.

Bitcoin price “Golden Cross” Indicator suggests Bullish Momentum

As per the latest data from CryptoQuant, Bitcoin’s active addresses suggest a major shift in momentum as the 30DMA has crossed above the 365DMA, forming a “golden cross” — historically associated with upward price momentum.

Following Bitcoin’s last all-time high in March, a “death cross” pattern had emerged which pushed the Bitcoin price into a bearish territory. Since then, BTC has yet not been able to breach the March levels. However, the momentum seems to be shifting now with bulls in place and the latest formation of the “Golden cross” pattern. Additionally, transaction counts are nearly twice what they were in the 2021 cycle, underscoring heightened market activity.

Courtesy: CryptoQuant

However, CryptoQuant analysts caution that if the 30DMA does not exceed the 365DMA more strongly, BTC’s current trend may mirror the mid-2021 consolidation phase. This critical period is one to watch closely for investors assessing long-term momentum.

BTC Retail Participation On the Rise

During the previous Bitcoin price rallies to all-time highs, it saw strong retail participation along with institutional participation. However, in the past few weeks, retail participation remained subdued with institutional players and whales driving most of the price action.

But the latest development suggests that retail participation is also picking up once again in the market. Also, on-chain data shows that the retail demand for BTC has surged to the seven-month highs recently.

There are some parts of the world such as Europe and Canada where the Bitcoin price continues to make fresh all-time highs. On the other hand, the institutional demand remains intact.

Inflows into spot Bitcoin ETF reached the second highest on Wednesday, October 30, with BlackRock’s IBIT dominating the show entirely. IBIT’s total inflows have surged past $25 billion since inception within a matter of just 10 months of launch.

On the other hand, the largest BTC corporate holder MicroStrategy unveiled its plans to raise a total of $42 billion and buy more Bitcoins. This shows that corporate interest in BTC remains intact. Players across the globe like Metaplanet have adopted Michael Saylor’s Bitcoin adoption blueprint. On the other hand, Microsoft is also considering shareholder vote to put BBTC to its balance sheet.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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How many crypto millionaires are there? Meet the whales.

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Many people have stumbled upon unexpected wealth thanks to cryptocurrencies. You don’t have to be an expert to see that Bitcoin’s price is sky-high compared to when it first started. Back around 12-15 years ago, you could buy thousands of Bitcoins for almost nothing. 

It’s believed that the biggest gains were made by those who believed in digital currencies at the very beginning. But fast forward to today, and new coins are still popping up, offering fresh opportunities to make a fortune. Recent reports show that the number of crypto millionaires is on the rise, proving that people are still cashing in on this digital gold rush. How many cryptocurrency millionaires are there?

Understanding crypto millionaires

Crypto millionaires come from diverse backgrounds and employ various strategies to maintain their wealth. Beyond early investors, many have made their fortunes through savvy trading, capitalizing on market volatility to buy low and sell high.

Others have really flourished in the world of decentralized finance, finding ways to earn passive income by lending out their assets or providing liquidity to exchanges. Some crypto millionaires really make the most of their expertise by launching exciting projects that solve real problems or offer new experiences, drawing in significant investment.

The crypto world changes fast, and these millionaires realize that staying attuned to market trends is key to their continued success.

Estimating the number of crypto millionaires

How many crypto millionaires are there in the world? According to the 2024 report by New World Wealth and Henley&Partners, there are currently 172,300 individuals worldwide who hold crypto assets worth over $1 million.

The number of millionaires exclusively owning Bitcoin has more than doubled compared to last year, reaching 85,400. Wealth growth in the crypto industry is being observed at all levels. There are now 325 crypto centimillionaires — individuals with crypto assets exceeding $100 million — and 28 crypto billionaires.

Among the six new crypto billionaires who emerged in the past year, five attribute their wealth to Bitcoin, highlighting its dominant role among long-term investors.

How many crypto millionaires are there? Meet the industry’s biggest players - 1

Worldwide crypto wealth statistics | Source: Henley&Partners

Factors influencing the number of crypto millionaires

The surge in wealthy individuals within the crypto space can be traced back to the growth of Bitcoin ETFs, which have gathered over $50 billion in assets since their introduction in January 2024, enticing institutional investors.

Additionally, just this March, Bitcoin (BTC) soared to a new all-time high of about $73,750, contributing to the total market value of crypto assets climbing to $2.43 trillion at the time of writing. This growth has undoubtedly made many crypto holders richer. Although some coins still haven’t bounced back to their 2021 peak values, the acceptance of cryptocurrencies by big names like BlackRock and Fidelity could fuel even more wealth for those heavily invested.

Who are some of the top crypto whales?

According to Forbes, the list of crypto whales features the founders of prominent exchanges, developers behind blockchain platforms, and other influential figures closely tied to the crypto scene. Here are the five richest among them.

Paolo Ardoino

How many crypto millionaires are there? Meet the industry’s biggest players - 2
Paolo Ardoino | Source: CoinDesk

Paolo Ardoino is a notable player in the crypto world, stepping into the CEO role at Tether in 2023. His journey began in 2014 as a senior software developer at Bitfinex, and since then, he has been instrumental in Tether’s growth, expanding its stablecoin offerings and enhancing blockchain infrastructure. Ardoino’s net worth is estimated at $3.9 billion.

Michael Saylor

How many crypto millionaires are there? Meet the industry’s biggest players - 3
Michael Saylor | Source: michael.com

Michael Saylor is the founder and CEO of MicroStrategy, a company that specializes in business analytics software. Since 2020, he has passionately championed Bitcoin, leading his firm to make bold acquisitions in the cryptocurrency. This innovative approach has allowed MicroStrategy to stand out as a pioneer among public companies in the ever-evolving crypto arena. Saylor’s net worth is estimated at $4.4 billion.

Giancarlo Devasini

How many crypto millionaires are there? Meet the industry’s biggest players - 4
Giancarlo Devasini | Source: Bloomberg

Giancarlo Devasini co-founded Bitfinex and served as its CEO for a period. Currently, he’s the Chief Financial Officer and holds a 47% stake in Tether, a position that has greatly contributed to his wealth. His net worth is estimated at $9.2 billion.

Brian Armstrong

How many crypto millionaires are there? Meet the industry’s biggest players - 5
Brian Armstrong | Source: CNN

Brian Armstrong is the founder and CEO of Coinbase, one of the largest cryptocurrency exchanges in the world. With its easy navigation and solid security, Coinbase has gained a loyal following. 

Beyond his work with the exchange, Armstrong actively supports the blockchain community, co-founding the Stand With Crypto movement to encourage education and advocate for favorable regulatory changes. His net worth is estimated at $11.2 billion.

Changpeng Zhao

How many crypto millionaires are there? Meet the industry’s biggest players - 6
Changpeng Zhao | Source: CNN

Often called ‘CZ’, Changpeng Zhao is the founder and former CEO of Binance, the biggest cryptocurrency exchange out there. His wealth stems from his ability to elevate Binance into a premier trading platform and his strategic investments in innovative blockchain projects that are making waves in the industry. Although he stepped down as CEO following an agreement with the U.S. Department of Justice, his influence as a leading crypto whale remains strong. Zhao’s net worth is estimated at $33 billion.

Counting Millionaires

In summary, there are around 85,000 known millionaires in the world, although the true number is difficult to ascertain due to the pseudonymous or even anonymous features baked into cryptocurrency technology.

The wealth of crypto whales reflects not only their personal success but also the growing significance of digital assets in the global economy.



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