Santiment: The decline in the number of BTC holding addresses may lead to a stronger rebound
According to BlockBeats, on July 18, crypto market research firm Santiment said that the number of Bitcoin wallet addresses holding BTC has been declining over the past month, but this may be good news for investors.
It is reported that the number of addresses with a balance greater than zero has decreased by 672,510 over the past month. Santiment said that traders may think that the historical high in March "is the highest level that can be achieved in 2024", but there is usually a rebound after the sell-off. Although the market rebounded to $65,000 this week, the number of currency holding addresses has not rebounded. When such a large-scale liquidation occurs, the possibility of a continued rebound is increasing.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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