According to IntoTheBlock data, a total of 2.76 million addresses bought a total of 2.10 million bitcoins at an average price of $97,100, forming a large demand area below the current price. The analysis points out that this price area could be a strong support level if the market faces further downward pressure.
There are now more than 1 million Bitcoin addresses holding more than 1 BTC or more.
According to Lookonchain, Genesis Trading has transferred 32,256 BTC ($2.12 billion) and 256,775 ETH ($838 million) to multiple addresses in the last 3 days and may be in bankruptcy proceedings to pay off debt. Genesis Trading transferred 13,291 BTC ($830.70 million) to Coinbase between June 12 and July 15, during which the price of BTC fell from $68,000 to $55,800, a drop of nearly 18%.