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Two Notable Signals in Bitcoin: “Purchases are Increasing, Wallet Numbers are Decreasing!” What Does This Mean for BTC?
The leading cryptocurrency, Btc, has continued its weak performance in recent days and is trading around the 74,000 level
However, despite the weakness in BTC, some Btc holders are not backing down and are continuing to accumulate
According to cryptocurrency analytics company Santiment, wallets holding between 1 and 10 btc have accumulated 10,076 Btc in the last two weeks.
Some Investors Continue Buying Btc!
Santiment noted that despite the drop in Btc price and the worsening sentiment among retail investors, small and medium-sized investors continued to make purchases
According to Santiment, wallets holding 1-100 btc have continued buying over the past 2 weeks, accumulating a total of 14,207 BTC. At this point, wallets holding 1-10 btc have accumulated 10,076 BTC, while those holding 10-100 btc have accumulated 4,131 BTC
In contrast, the number of wallets holding more than zero btc has decreased by approximately 108,700 since Oct 16th. Santiment stated that small investors are withdrawing from the market due to increasing pessimism
Citing historical data, Santiment said that large investors who act against the general market are generally profitable. At this point, Santiment noted that similar retail investor capitulations in the past have been seen before major market recoveries. However, he added that accumulation data alone does not confirm that the market has bottomed out
Retail Investors Are Withdrawing from the Market!
Santiment noted that while some medium and small-sized investors are continuing to hold onto their savings, the number of wallets holding Btc decreased by 109,000. This could be a signal that the retail market is giving in
According to Santiment, the number of wallets holding btc has decreased by approximately 108,700 since its peak of 59.99 million on Oct 16th. This decline is attributed to small investors closing their positions as the Bitcoin price fell below 75,000#Write2Earn #BTC $BTC
Two Notable Signals in Bitcoin: “Purchases are Increasing, Wallet Numbers are Decreasing!” What Does This Mean for BTC?
The leading cryptocurrency, Btc, has continued its weak performance in recent days and is trading around the 74,000 level
However, despite the weakness in BTC, some Btc holders are not backing down and are continuing to accumulate
According to cryptocurrency analytics company Santiment, wallets holding between 1 and 10 btc have accumulated 10,076 Btc in the last two weeks.
Some Investors Continue Buying Btc!
Santiment noted that despite the drop in Btc price and the worsening sentiment among retail investors, small and medium-sized investors continued to make purchases
According to Santiment, wallets holding 1-100 btc have continued buying over the past 2 weeks, accumulating a total of 14,207 BTC. At this point, wallets holding 1-10 btc have accumulated 10,076 BTC, while those holding 10-100 btc have accumulated 4,131 BTC
In contrast, the number of wallets holding more than zero btc has decreased by approximately 108,700 since Oct 16th. Santiment stated that small investors are withdrawing from the market due to increasing pessimism
Citing historical data, Santiment said that large investors who act against the general market are generally profitable. At this point, Santiment noted that similar retail investor capitulations in the past have been seen before major market recoveries. However, he added that accumulation data alone does not confirm that the market has bottomed out
Retail Investors Are Withdrawing from the Market!
Santiment noted that while some medium and small-sized investors are continuing to hold onto their savings, the number of wallets holding Btc decreased by 109,000. This could be a signal that the retail market is giving in
According to Santiment, the number of wallets holding btc has decreased by approximately 108,700 since its peak of 59.99 million on Oct 16th. This decline is attributed to small investors closing their positions as the Bitcoin price fell below 75,000#Write2Earn #BTC $BTC
