Bitcoin Price Forecast BTC Surpasses 61500 with Over 1 Million Wholecoiners Achieving Milestone

Bitcoin Price Forecast: BTC Exceeds $61,500 with Over 1 Million Wholecoin Holders Achieving Milestone


By Arslan Butt
Last updated:
June 27, 2024, 20:50 EDT
|
3 min read


Bitcoin Price Forecast
In the latest update on Bitcoin’s price, BTC has surged past the $61,500 threshold, coinciding with a significant milestone where more than one million addresses now possess at least one whole Bitcoin. This upward movement underscores the growing confidence in Bitcoin’s intrinsic value and its increasing appeal as a long-term investment.
The rise in the number of wholecoin holders highlights Bitcoin’s ongoing potential for sustained growth amidst market fluctuations.
Bitcoin Holders Surpass 1 Million: A Landmark in Cryptocurrency Expansion
The cryptocurrency realm has recently achieved a notable milestone: the number of Bitcoin addresses holding at least one BTC has now surpassed one million. According to IntoTheBlock, a prominent blockchain analytics firm, the current count stands at 1,010,777 addresses.
This achievement underscores a burgeoning trend where individuals and entities are progressively accumulating Bitcoin, striving to attain “wholecoin” status—a term reserved for those who possess one entire Bitcoin or more.
The Emergence of Wholecoin Holders
The increase in wholecoin holders reflects broader confidence in Bitcoin as a stable investment asset and a reliable store of value. This data not only signals heightened interest in acquiring complete Bitcoins but also signifies a significant shift towards widespread adoption of cryptocurrencies.
As highlighted by IntoTheBlock, the growth in wholecoin holders is not merely a transient trend but a sustained surge, underscoring enduring trust in Bitcoin’s long-term appreciation potential.
Significance of the Wholecoin Holder Milestone
Surpassing the milestone of one million wholecoin holders is particularly noteworthy given Bitcoin’s finite supply—only 21 million coins will ever exist. This scarcity enhances the value proposition of owning a full Bitcoin, making wholecoin status not just a mark of commitment but also an increasingly rare opportunity. This scarcity underscores Bitcoin’s fundamental value proposition amid rising demand.
The significance of this milestone is amplified against recent market movements, including Bitcoin’s approximately 17% decline from its peak near $74,000 in mid-March, driven by optimism surrounding potential U.S. ETF approvals.
Bitcoin Price Forecast
As of June 27, Bitcoin (BTC/USD) is trading at $61,585. Over the past 24 hours, Bitcoin’s price has risen by more than 1%, with a trading volume of $21.25 billion.
Bitcoin maintains its leading position with a market capitalization of approximately $1.21 trillion. The cryptocurrency has a circulating supply of 19.72 million BTC and a maximum supply of 21 million BTC.
The 50-day Exponential Moving Average (50 EMA) is a significant resistance level around $62,700. The current price action, with candles closing above the pivot point at $61,320, suggests a potential continuation of the upward trend.
Furthermore, an ascending triangle pattern is forming, with double top resistance near $62,500. A breakout above this level could propel Bitcoin towards subsequent resistance levels at $63,440 and $64,510.


Bitcoin Price Forecast – Source: Tradingview
Key price levels to monitor include the pivot point at $61,320, immediate resistance at $62,510, and additional resistance at $63,440 and $64,510. On the downside, immediate support is at $59,670, followed by further support levels at $58,630 and $57,540.
The Relative Strength Index (RSI) currently stands at 35, indicating a neutral stance with a slight inclination towards oversold conditions.
The overall outlook for Bitcoin remains bullish as long as it holds above the pivot point of $61,320. A decisive breach above the $62,500 resistance could trigger upward momentum towards higher resistance levels.
However, a drop below immediate support at $59,670 could indicate a significant selling trend, potentially driving prices down to $58,630 or $57,540.
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Disclaimer: Crypto assets are high-risk. This article is for informational purposes only and does not constitute investment advice. You may lose all of your capital.