Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11441
Markets: 87421
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11441
Cryptocurrencies
59.64%
Bitcoin Share
The Crypto Basic 2024-11-05 15:38:54

Over 211,000 Addresses Exit Bitcoin Amid Uncertainty: Here’s What History Tells Us

Over 211,000 Addresses Exit Bitcoin Amid Uncertainty: Here’s What History Tells Us

As uncertainty grips the crypto market, Bitcoin is witnessing an intense reduction in non-empty wallet addresses, which may signal a bullish turnaround. According to market analytics platform Santiment, there are now 211,540 fewer active Bitcoin addresses compared to three weeks ago. However, the analysis suggests that this trend may precede a price rebound for Bitcoin.Investors Cautiously Exiting the Bitcoin MarketSantiment attributes the recent drop in non-empty Bitcoin wallets to a wave of fear, uncertainty, and doubt (FUD) among investors, prompting some to move funds out of their wallets in anticipation of potential short-term volatility.Notably, Bitcoin and the broader crypto market flipped bearish over the weekend, with BTC dipping below $68,000. The downtrend intensified today as Bitcoin revisited $66,803 before quickly rebounding to $68,900.In addition, analytics platform IntoTheBlock highlighted that long-term Bitcoin holders are reducing their positions, although at a slower pace than in past bull cycles. This moderate sell-off signals a shift in investor behavior, with caution prevailing over aggressive exits. It suggests that investors are hedging their positions instead of abandoning Bitcoin entirely, likely indicating a new cycle dynamic amid the current market uncertainty. https://twitter.com/intotheblock/status/1853491255365222589Current FUD as a Potential Bullish SignalWith active Bitcoin addresses now down to 54.38 million, Santiment noted that market recoveries have historically followed declines like this. The firm posited that a renewed buying interest could trigger upward momentum once the selling pressure eases and the "dust settles" from the U.S. election. Uncharacteristic Behavior in Other Crypto AssetsAdditional data from Santiment shows uncharacteristic behavior in other crypto assets as well. The USDC stablecoin, for instance, experienced a drop of 11,600 wallets in a single day over the weekend. This decline in USDC wallet activity adds to the broader market caution amid ongoing election-related uncertainty.On the other hand, Dogecoin saw a spike in wallet activity, with 46,400 new wallets created in just one week. This surge indicates renewed speculative interest in meme coins, even after Dogecoin recently reached a local price peak. Santiment interprets this rise in Dogecoin activity as traders "gambling" on the asset, driven by FOMO (fear of missing out).Overall, the decline in Bitcoin wallets and the reduced activity in USDC could be setting the stage for a market recovery once the current uncertainty clears.

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
59.64%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.