Bitcoin News: Over the previous day, the price of Bitcoin (BTC) has stayed stable between $29,000 and $29,600. A new all-time high (ATH) has been attained in terms of BTC supply outside of exchanges.
Bitcoin supply in self-custodial wallets has reached 18.39 BTC, setting a new ATH, according to data from Santiment. This sum has been steadily increasing since December 2018, according to the market intelligence platform, with a few decreases in October 2019 and February 2021.
Bitcoin is currently trading at about $29,030, down 1.3% over the last 24 hours. With a total market capitalization of more than $564 billion, the asset's 24-hour trading volume is also down 24%, now at $15.5 billion.
Additionally, since August 1, Bitcoin's one-week price volatility has been steadily increasing, pointing to an increase in short-term traders. According to Santiment, the price volatility of BTC increased from 0.0034 on August 1 to 0.0062 at the time of writing, or a seven-day average.
According to a report on August 2, the leading cryptocurrency temporarily crossed the $30,000 threshold as the price dip below the $29,000 threshold caused a sharp increase in whale transactions, each involving more than $1 million in Bitcoin.
Additionally, it has been claimed that MicroStrategy, a provider of business analytics, is getting ready to sell 750 million shares of its stock in order to buy more Bitcoins.