Retail investors enter the market at low prices to pick up chips. The number of addresses holding at least 0.01 BTC has reached nearly 10 million, a record high

Retail investors appear to be returning to the Bitcoin market amid the decline . Data from on-chain analytics firm Glassnode shows that the number of addresses holding at least 0.01 BTC continues to increase, reaching a new all-time high of 9,989,557.

In addition, the number of addresses holding at least 1 BTC reached 836,922 , also a new all-time high. The previous all-time high was 836,871, which occurred on May 4, 2022.

Data from Bitpush Terminal showed that Bitcoin briefly fell to a low of $29,731 on May 10, hitting its lowest price since July 2021 and a new annual low for 2022. At press time, Bitcoin was trading at $31,224, down 3.4% in 24 hours.

Bitcoin is down nearly 55% from its all-time high in November, and 47% of Bitcoin holders are now losing money, according to IntoTheBlock's In/Out of Money data.

Currently, Terra UST (UST) remains a hot topic among cryptocurrency investors, with UST decoupling from its $1 peg and falling to $0.61 on May 10.

On Monday, Luna Foundation Guard said it would lend $750 million worth of Bitcoin to over-the-counter trading platforms to help maintain UST's peg, and would lend another $750 million to buy more Bitcoin as market conditions normalize.

On a positive note, El Salvador’s President Nayib Bukele said the country bought another 500 Bitcoins for $15.37 million on Monday to take advantage of the price drop to increase its holdings. El Salvador has made 10 purchases since adopting Bitcoin as a legal tender. Based on a series of past announcements, the small country currently holds around 2,000 Bitcoins.

At press time, the Bitcoin Fear and Greed Index fell from 11 to 10, representing extreme fear in the market.