Bitcoin Wallet Activity Hints at Potential Market Shift

Data from Santiment reveals a notable shift in Bitcoin wallet activity. Wallets holding between 10 and 10,000 bitcoins – those closely tied to market health – have seen their holdings rise by 81,338 bitcoins over the past six weeks. This increase amounts to a 0.61% growth in their total holdings. Conversely, smaller wallets with less than 0.1 bitcoin saw a notable sell-off of 290 bitcoins during this period, marking a 0.60% decrease. This trend, where larger wallet holders are accumulating as retail investors sell off in anticipation of market shifts, is often seen as a strong indicator that the market is primed for a potential breakout.