The price of BTC soared to about $20, 000 in the second week of January, causing FOMO (fear of missing) in the market, especially among smaller holders of BTC.

Since January 13th, the number of BTC detailed addresses with 0.1 BTC or fewer BTC has risen sharply. According to information shared by cryptanalysis company Santiment, since BTC prices soared on Jan. 13, a new BTC detailed address has sprung up, totaling 39.8 million.

The increase in Bitcoin ownership suggests that investors rekindled their cheerfulness in 2023. The increase in this small address is very limited, slowing down significantly after the collapse of FTX in November 2022, but the rate of creation of the latest addresses has increased in 2023.

The recent surge in small bitcoin addresses is the highest since November 2022, when bitcoin fell to around $16000. The fall in prices has prompted small traders to snap up bitcoin for a limited time at lower prices. The surge at this stage is due to the growing bullishness in the market. in addition to bitcoin, several alternative currencies have also set new records for several months, while the overall login password market has risen by more than 30%.

The bullish trend in Bitcoin continued into the first week of February, reaching a five-month high above $24000. However, in fact, the pressure level of $24000 is too great to hold. At the time of writing, the price was struggling around 23000 yuan. Market experts point out that February is likely to be less cheerful than it was in January.

At a time when people are confused about how the upcoming foreign macroeconomic data are likely to affect the market mindset, market industry insiders warn that login passwords and stock rebounds are likely to turn bullish in the same month. He attributed the looming potential downtrend to the extent to which US interest rates were raised.