Analysis: The number of non-empty Bitcoin wallets has dropped by around 108,700, and sell-offs by retail investors may signal a bullish trend.
12 minutes ago
Santiment noted in a post that the number of non-empty Bitcoin wallets reached 59.99 million on October 16, and has since fallen by around 108,700. BTC’s price has now dropped below $75,000, a sign that some small-scale holders may be losing patience. Santiment emphasized that the decline in wallet count does not necessarily mean Bitcoin’s actual usage is shrinking. During extended market downturns, small traders often merge wallets or liquidate positions out of panic; this retail capitulation has historically been a hallmark preceding major crypto market rallies. If wallet numbers keep declining while BTC’s price stabilizes, this signal will turn more bullish.
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