Bitcoin is back above $42,000 as new investors succumb to FOMO.

The address that made the first transaction with Bitcoin also inflated.
Bitcoin has rallied over the past 24 hours on favorable news from the Federal Reserve.

As sentiment toward Bitcoin (BTC) improves every day, more and more investors are including the world’s largest cryptocurrency in their portfolios.
New investors enter the Bitcoin market
According to AMBCrypto’s analysis of Glassnode’s data, at the time of this writing, the number of addresses holding positive Bitcoin was more than 50.7 million.
Approximately 2.45 million addresses have been added since the rally began in mid-October, showing that many people were attracted by the high returns.
Source: Glassnode
Moreover, as the rally continued its momentum, the addresses that made the first transaction with Bitcoin also swelled as shown below.
Source: Glassnode
Bitcoin’s resilience in bear markets and its clean image amid an increasingly tough U.S. regulatory environment have attracted investors from traditional markets.
Additionally, the approval of cash exchange-traded funds (ETFs) and the excitement surrounding the upcoming halving have increased Bitcoin’s legitimacy as a traditional store of value.
Large investors also show interest
Recently, whale investors have also shown significant interest. Using Glassnode data, AMBCrypto found that there has been a significant increase in the number of businesses holding at least 1,000 bitcoins since mid-October.
Source: Glassnode
An entity here means a group of addresses owned by the same network entity.
Strong buying activity by whales is often viewed as a positive in the cryptocurrency industry in terms of future price movements of an asset.
Bitcoin is making a strong recovery
While adoption is clearly increasing, some investors may have been disappointed by the sharp correction observed earlier in the week.
Over 34,000 BTC flew to various cryptocurrency exchanges over the past week as short-term holders took profits. This caused the BTC price to drop below $41,000.
Source: Glassnode

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However, BTC recovered in style, regaining $43,000 following favorable news on interest rates from the US Federal Reserve (Fed). At the time of writing, King Coin is trading at $42,799, up 4.43% in the last 24 hours.
In a statement shared with AMBCrypto, Shivam Thakral, CEO of Indian cryptocurrency exchange BuyUcoin, said:
“The Fed has hinted that it may leave interest rates unchanged and cut rates several times next year. This has sparked cheers in the trading community as it will increase liquidity in the market and spark economic activity in several sectors. “The market is expected to maintain momentum over the coming weeks.”