Bitcoin Wallets Have Hit a Five-Month Low Due to Small Traders Withdrawing from the Market. Are Whales Buying This Dip
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The count of non-empty Bitcoin wallets has reached a five-month low, indicating rising concerns among retail investors amidst market fluctuations.
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Significant Bitcoin holders are still accumulating assets, suggesting potentially bullish sentiment even as smaller investors pull back.
The Bitcoin network[BTC] has experienced a notable decrease in active wallets, dropping to about 54 million non-empty wallets – the lowest in five months.
This decline suggests increasing capitulation among retail investors as small traders exit their positions due to recent market volatility. The pressing question is whether larger holders will intervene to mitigate selling pressure.
Exodus of retail investors and its implications
An examination of Santiment’s data indicates that the number of Bitcoin wallets holding balances is on a downward trend.
The decline represents the lowest count since December 10, with approximately 54.7 million at the drafting time of this article.Source: Santiment.
Past trends typically point towards smaller investors liquidating their holdings amid volatility. Selling driven by fear often correlates with market lows and raises speculation regarding a potential price rebound.
A rise in whale accumulation?
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