Recent on-chain Bitcoin data provides important signals about market trends. According to data, as of October 2023, the number of addresses holding more than 1 BTC continues to grow, reaching nearly 950,000, a new high. This indicates that an increasing number of investors are confident in Bitcoin's long-term value. Meanwhile, addresses holding small amounts of Bitcoin are gradually decreasing, which may reflect a market concentration among high-net-worth investors, leading to a gradual price increase.

Additionally, the current on-chain inflow and outflow data also support this trend. In recent weeks, inflows have been significantly higher than outflows, meaning more funds are entering the Bitcoin market. Coupled with Bitcoin's support level around $30,000, the potential for continued upward movement in the future is worth watching.
Overall, current on-chain data reveals a strong upward momentum for Bitcoin. We may be entering a new early stage of a bull market. Stay tuned! #BTC #Crypto