Bitcoin’s Volatility and Growing Holder Base: Will the Bull Run Return?

Bitcoin's holder count hits record highs, signaling long-term confidence despite ongoing volatility.

Areeba Rashid
March 14, 2025
12:00 am

Areeba Rashid

Areeba Rashid is a dedicated crypto news writer with a passion for making complex topics accessible to everyone. She covers the latest developments in the crypto world, including in-depth price analysis, helping readers stay informed and make sense of market trends.

The number of Bitcoin holders has surged to 54.71M, nearing its record high of 54.72M set in January 2025.
Market volatility persists as Bitcoin fluctuates, struggling to establish a stable trading range after hitting $109K.
Bearish signals emerge as Bitcoin faces lower highs, strong resistance, and repeated 200-day SMA rejections.

The number of active Bitcoins’ holders has increased to 54.71 million close to the record figure of 54.72 million registered on January 19, 2025. Santiment, the analytical platform, shared this fact in a recent X post and explained that how network advancement and wallet restructuring have also played the part. The growing number of Bitcoin has continued to increase the number of non-empty addresses after owners of large amounts of BTC compartmentalize the BTC into several smaller addresses.

😎 Bitcoin's total amount of holders (non-empty wallets) has exceeded 54.71M, which is within 0.018% of the all-time high (~54.72M) established on January 19, 2025. This is partially due to $BTC network growth, and larger wallets splitting into smaller ones. But this does… pic.twitter.com/DW1BP1Ns1a
— Santiment (@santimentfeed) March 13, 2025

Bitcoin’s Ongoing Volatility

Bitcoin remains volatile in the last couple of weeks as it is still yet to find the right trading range it should trade at. This asset was at an all-time high of $109,000 but has been oscillating for almost eight weeks. Experts consider this to be a corrective process when investors are waiting for more powerful fundamental factors to push the market forward.

Market analyst Daan Crypto Trades also mentioned that Bitcoin and Ethereum are in their weakest trend since Q2 2022. First Quarter 2025 has not met the expected forecast, meaning short-term market trends are now in great concern. In particular, the second quarter is usually favorable for these assets.

The first quarter performances by $BTC & $ETH have not been up to expectations of many.

Both are on track for their worst quarter since Q2 2022.

Q2 is generally a good quarter for both but we'll likely need some catalyst or positive macro development to get some bid back into… pic.twitter.com/C6bVnImHCF
— Daan Crypto Trades (@DaanCrypto) March 12, 2025

There are also other technical factors that point to a bearish trend about Bitcoin. In the view of Rose Premium Signals, the asset is still establishing lower highs and lower lows and therefore in a bearish trend. Bitcoin has also had constant rejections at specific crucial levels for example the 200 day SMA. These indicate negative possibilities in the short term, as analysts suggest that the price will carry on falling unless there is a bullish run.

Source: Rose Premium Signals

Long-Term Confidence Rising

Nevertheless, some short-term bearish cues, the number of Bitcoin holders is just increasing, indicating that people have strong long-term confidence in the asset. The further growth of Bitcoin network and the growth in demand show that investors still come to consider value in Bitcoin. The market direction seems unpredictable and therefore traders and analysts will be on the lookout for breakout points or more corrections.

The market is currently at a favourable position regarding its holder count since the numbers are rapidly soaring and with it the number of new users of Bitcoin. Though the technical trend may go down in the short run, it indicates constant increases in the long run. The future months will therefore define if Bitcoin will continue to have an upward surge, or will keep on oscillating downwards.