Bitcoin Wallet Activity Suggests Potential Market Shift

According to Foresight News, Santiment has reported that wallets holding between 10 and 10,000 bitcoins, which are closely linked to the overall health of the cryptocurrency market, have increased their holdings by 81,338 bitcoins over the past six weeks. This increase represents a 0.61% rise in their total holdings. Conversely, smaller wallets holding less than 0.1 bitcoin, which often show an inverse and lagging correlation with price movements, have sold off 290 bitcoins during the same period, marking a 0.60% decrease. This trend, where larger wallets accumulate as retail investors sell due to panic or boredom, is typically seen as a strong long-term indicator that the market is preparing for a potential breakout.