CandleFocus Bitcoin Hits $58K While Mid and Large Wallets Stall, Wen New ATH?
2024-09-11
Author: Content Editor
Recent data analysis from Santiment reveals that the distribution of Bitcoin (BTC) supply by wallet size has changed. Small wallets holding less than 1 BTC are at their highest ratio in seven months, indicating increased confidence among retail traders. However, mid-sized and large holders have shown stagnant or declining activity, suggesting caution or profit-taking. This shift in supply distribution could play a critical role in Bitcoin's future price movement. Additionally, data from IntoTheBlock shows that Bitcoin's supply on exchanges is shrinking due to continued outflows, which could lead to reduced selling pressure and a potential price increase if demand grows.
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