Bitcoin non-empty wallets drop by 108700 amid retail capitulation
Prefer us on GoogleThe number of non-empty Bitcoin wallets has decreased by approximately 108700 since reaching 59.99 million on October 16, indicating small-scale investors are exiting the market during a prolonged correction and stagnant prices. On-chain analysts suggest this retail capitulation may signal a potential bottom formation. Historically, significant retail exits and peak fear sentiment have preceded major price increases. Bitcoin balances on exchanges have declined to about 1.28 million BTC, indicating increasing supply pressure. Market analysts believe that if Bitcoin maintains support in the 74000-75000 range and recovers to 78000-80000, the combination of exhausted selling and smart money accumulation could lead to a broader trend reversal.
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