Emily Walker
As Bitcoin shows renewed upward movement, enthusiasm and confidence in this leading cryptocurrency have surged within the crypto community. Retail investors are particularly enthusiastic, as evidenced by their rapid accumulation of Bitcoin.
Growth in Small Bitcoin Wallets Under 1 BTC
A significant rise has been observed in the number of Bitcoin wallet addresses containing less than 1 BTC. Axel Adler Jr, a market analyst and verified contributor at CryptoQuant, highlighted this positive trend regarding small wallet addresses on the X platform (formerly Twitter).
This increase signifies heightened activity among retail investors, reinforcing Bitcoin’s position as a prominent asset. It reflects the growing belief in Bitcoin’s long-term potential, as individuals continue to gather the cryptocurrency despite recent market fluctuations.
According to Adler’s data, the average number of wallets holding 1 BTC or less has climbed to around 323,000, with Bitcoin trading at $101,000—a more than 21% increase from previous figures. Adler noted that this surge began when the price reached $61,000, at which point there were approximately 265,000 such addresses.
Despite being termed “shrimps,” these small holders are expressing strong faith in Bitcoin’s future by maintaining their holdings. Given the current trend, Adler anticipates that addresses holding under 1 BTC could reach 351,000 soon.
This trend could illustrate increasing grassroots demand and decentralized adoption driving Bitcoin’s distribution, with retail growth possibly influencing the asset’s future price movements.
Strong Confidence Among Large Investors in BTC
Similarly, large investors, or whales, who hold more than 1,000 BTC, are showing firm confidence in Bitcoin. Recent reports indicate an increase in the total amount of BTC held by these investors over the past week.
Adler reported that these large holders have amassed over 3,867 million BTC, and this accumulation trend continues. This robust buying behavior from both large and small investors may provide Bitcoin with the momentum necessary for significant upward movement.
The growth in BTC whale activity occurs alongside rising market interest, which could signal bullish prospects for Bitcoin’s price. At present, Bitcoin is trading around $105,115, having increased nearly 4% in the last 24 hours.